Beximco’s Tk 1,500 crore zero coupon bond’s subscription begins
The subscription of the Beximco 1st Unsecured Zero-Coupon Bond worth Tk 1,500 crore started on April 28 and the first tranche of the subscription will be closed on May 15 this year, Beximco said in a statement.
The bond offers a discount rate of 15 percent, amounting to a monthly return of Tk 1,250 per lakh.
This non-convertible, redeemable, unsecured bond aims to raise Tk 1,500 crore, of which Tk 1,000 crore will be given as loan to Sreepur Township Ltd for the development of the Mayanagar project.
The remaining Tk 500 crore will be used to repay existing bank loans of Beximco Ltd, according to the statement.
The bond subscription has a minimum investment threshold of Tk 50,000, with no upper limit, making it accessible to a broad range of investors.
This opportunity is available on a first-come, first-served basis, emphasising its limited nature.
On April 3 this year, the Bangladesh Securities and Exchange Commission gave go-ahead to the bond for which IFIC Investment Ltd will be the arranger and Sandhani Life the trustee.
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