One Bank, Brac Bank, and Dutch-Bangla Bank to issue bonds

The securities regulator has allowed three private banks to raise an aggregate amount of Tk 16 billion by issuing subordinated bonds.
The banks are One Bank, Brac Bank and Dutch-Bangla Bank. They will raise capital to strengthen their tier-II capital base. One Bank will raise Tk 4 billion, Brac Bank Tk 7 billion and Dutch-Bangla Bank Tk 5 billion.
The nature of the bonds will be fully redeemable and non-convertible.
The debt securities will be issued to institutional investors and high net worth individuals through private placement.
The offer price of the bond units to be issued by One Bank and Brac Bank will be Tk 1 million each whereas the offer price for Dutch-Bangla Bank bonds will be Tk 10 million each unit.
As per the regulatory condition, the bonds will have to be listed on the exchange's alternative trading board.

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