Exim Bank’s Tk500C bond gets BSEC nod

The Bangladesh Securities and Exchange Commission (BSEC) on Sunday approved Exim Bank Limited's non-convertible subordinated bond worth Tk500 crore.

The bank will issue the bond to strengthen its Tier 2 capital base. The per unit price has been fixed at Tk1 crore.

Financial institutions, insurance companies, corporate bodies, asset management companies, mutual funds and high net-worth individuals through private placements can purchase the bond.

Sena Kalyan Insurance Company Limited will act as the trustee and Standard Chartered Bank as the arranger for the bond.

Exim Bank, an 'A' category company listed on the Dhaka Stock Exchange (DSE) in 2004, closed trading on Sunday at Tk 13 per share, down 1.52% from the previous day.

At the commission meeting it was also approved to restructure the board of the Fareast Stocks & Bonds Ltd in its effort to protect the interest of general shareholders.

Earlier in the week, the Bangladesh Securities and Exchange Commission restructured the boards of Emerald Oil, Al-Hajj Textile, United Airways, C&A Textiles and Familytex for the same purpose.