LankaBangla Finance PLC today said its board has approved the issuance of a zero-coupon bond to raise Tk 300 crore.

The non-convertible zero-coupon bond (3rd Issue) will be issued in a face value on the Alternative Trading Board, said the non-bank financial institution in a post on the Dhaka Stock Exchange.

A zero-coupon bond is a debt security that does not pay interest but instead trades at a deep discount, rendering a profit at maturity, when the bond is redeemed for its full-face value.