The Mutual Trust Bank perpetual bond, listed under the "N" category, began trading on in the Dhaka Stock Exchange (DSE) on Wednesday.

City Bank Capital, an investment bank and a subsidiary of The City Bank Ltd, acted as an arranger, read a press release.

Rais Uddin Ahmad, deputy managing director and CAMLCO of Mutual Trust Bank PLC, Ershad Hossain, managing director and CEO of City Bank Capital, Khairul Bashar Abu, chief regulatory officer of the DSE, and Fakruddin Ali Ahmed, chief executive officer of MTB Capital Ltd, inaugurated the initiative, ringing a ceremonial bell at the DSE office in Dhaka, read a press release.

Ahmad highlighted the bank's commitment to providing innovative financial solutions to its clients and contributing to the development of the capital market.

Hossain emphasied the collaborative effort between City Bank Capital and MTB, highlighting the strategic planning and dedication that went into the successful issuance of the perpetual bond.

The DSE assigned the trading code "MTBPBOND" and designated the company code "26015" under the "Corporate Bond" sector.

The features of this perpetual bond include an issue price of Tk 1,000,000 per bond, a face value of Tk 1,000,000 per bond, a market lot of 4,000, and a maturity date set for December 6, 2123.

The coupon rate ranges from 6 percent to 10 percent with coupon payments scheduled semi-annually.

Among others, Md Sohel Haque, head of business for the corporate advisory division of City Bank Capital, was also present.