Three banks, one NBFI to issue Tk 22b bond
Southeast Bank to form Asset Management Company
FE Report |
October 31, 2017 00:00:00
Three listed banks and a financial institution will issue bond of Tk 22 billion to strengthen their capital base subject to approval of the regulatory authorities, according to separate disclosures on Monday.
Three banks and a non-bank financial institution (NBFI) which will issue bonds are: Southeast Bank, Trust Bank, Prime Bank and Uttara Finance.
Southeast Bank: The board of directors of Southeast Bank has adopted the resolution for the issuance of Southeast Bank 7 years Non-Convertible Subordinated Bond of Tk 5.0 billion to raise Tier-II Capital of the Bank.
"The board has also decided that any changes requiring in the feature of the bond's tenor, issue size or whatsoever as deemed necessary by any regulatory advice or otherwise shall be decided by the board of directors of the Bank," said a disclosure posted on the Dhaka Stock Exchange (DSE) website Monday.
The board has also adopted the resolution for formation of a subsidiary company of the bank named "SEBL Asset Management Limited'" for offering asset management services.
Trust Bank: The board of directors of Trust Bank has approved issuance of fully redeemable non-convertible unsecured subordinated bond IV worth Tk 5.0 billion to strengthen its capital base subject to approval of the regulatory authorities.
Prime Bank: The board of directors of Prime Bank has decided to issue "Prime Bank Subordinated Bond-3" up to Tk 7.0 billion for raising Tier-II capital subject to approval of the regulatory authorities.
The bank has also reported consolidated EPS of Tk 0.58 for July-September, 2017 as against Tk (0.08) for July-September, 2016.
Uttara Finance: The board of directors of Uttara Finance has accorded approval to issue non-convertible zero coupon bonds through private placement at a discounted issue price of Tk 5.0 billion, subject to the approval of the regulatory bodies.
"The purpose of the issuance is to generate liquidity to meet ongoing financing requirements," said an official disclosure.
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