Runner Automobiles PLC is going to raise funds of Tk 267.5 crore from the institutional investors, corporates and high-net-worth people.

The Bangladesh Securities and Exchange Commission (BSEC) approved the bond today in a commission meeting.

The tenure of the bond would be seven years and it would be unsecured, redeemable, non-convertible, and guaranteed. The coupon rate would be 8.5-9 per cent.

With the bond proceeds, Runner would extend the credit to the customers and build a solar plant.

The face value of each of the unit of the bond is Tk 10 lakh. Trustee and lead arranger of the bond is DBH Finance PLC and Green Delta Capital respectively.