One Bank gets approval for Tk 400 crore bond

One Bank has got approval from the regulator to issue a fully redeemable, non-convertible, unsecured floating rate subordinated bond worth Tk 400 crore.

In a disclosure on Dhaka Stock Exchange website, the private commercial bank today said the Bangladesh Securities and Exchange Commission has given its consent to issue the bond.

The lender also said that the subordinated bond would be issued to increase its tire-II capital through issuance of under private placement with a tenure of seven years.

The issuance of the bond will help the bank to grow its investment and loan portfolio, it added.