Renata raises Tk 536cr through bonds, preference shares

Renata PLC has raised Tk 536 crore by issuing zero coupon bonds and preference shares, saying the funds would be used to reduce its average cost of lending. 

In a statement yesterday, the pharmaceutical company said it had organised an event at Renaissance Dhaka Gulshan Hotel on Sunday in this regard jointly with its financial adviser, City Bank Capital Resources.

Renata is now planning to issue preference shares worth Tk 325 crore to repay high-cost loans, subject to approvals from shareholders and the Bangladesh Securities and Exchange Commission.

City Bank Capital CEO Ershad Hossain and Chairman Aziz Al Kaiser were present.