Dhaka Bank Limited has issued BDT 2.0 billion 7 Year Fixed Rate Subordinated Bonds for their capital base in line with the Basel-II framework.
This is first ever bond issuance of Dhaka Bank Limited. Standard Chartered Bank was the mandated lead arranger for this issuance. Bangladesh Bank and Securities and Exchange Commission gave all necessary approvals to issue this bond through private placement.
The bond has been subscribed by investors from different areas including state-owned commercial banks, private commercial banks, insurance companies, non-banking financial institutions, corporate houses and development banks.
Mr. Abdul Hai Sarker, Founder Chairman of Dhaka Bank was present as the Chief Guest at the closing ceremony. Mr. Reshadur Rahman, present Chairman of Dhaka Bank; Mr. Khondker Fazle Rashid, Managing Director of Dhaka Bank and Mr. Jim McCabe, CEO of Standard Chartered Bank, Bangaldesh were also present. The ceremony was also attended by Managing Directors and other senior officials of the investors of the bond.
Successful issuance of the Bonds demonstrates strong confidence of investors in Dhaka Bank and appropriately justifies investors’ confidence in Dhaka Bank’s ability to grow the business going forward.
Source: The financial express, 7 December, 2010
0 comments
Post a Comment