LankaBangla Finance Limited, a main NBFI of the nation, has gotten assent from Bangladesh Securities and Exchange Commission (BSEC) to raise a Zero Coupon Bond (ZCB) of Tk 300 crore.
Prior to that, LankaBangla additionally got the assent of Bangladesh Bank for the issue.
This will be the fourth bond issue and a third zero-coupon bond issue of the organization. The returns of the security issue will be utilized to increase the advance payment force of the organization to SME, corporate, and retail portions.
A zero-coupon bond is a bond given at a markdown from its presumptive worth and the bondholders get the assumed worth at development. In Bangladesh, pay from zero-coupon security is dependent upon no annual assessment for individual and corporate financial backers. IIDFC Capital Limited is going about as the trustee to the issue and Green Delta Capital Limited is the arranger.
LankaBangla Finance Ltd has seen an enormous 2900% increment in its Q2 (April-June) profit. In a document with Dhaka Stock Exchange on Thursday, the organization said that its united profit per share (EPS) was Tk0.30 for the Q2 of 2021 as against Tk0.01 for a similar time of the earlier year.
The controller supported a non-convertible zero-coupon obligation of Tk265.33 crore (face esteem up to Tk300 crore) for LankaBangla Finance Limited.
The organization will reinvest and give credits to corporate, retail, and Small and Medium Enterprises (SMEs) with this security.
A zero-coupon bond is just a rebate bond initially sold at a markdown from its assumed worth rather than intermittent profit installments or interest.
Assumed worth is the sum paid to the bondholders at development.
The rebate pace of the security is 7.25-9%, to be offered to banks, common assets, protection firms, corporate bodies, monetary establishments, associations, and other institutional financial backers through private positions.
Each parcel of the bond adds up to Tk53.06 lakh. IIDFC Capital Ltd will go about as the trustee and Green Delta Capital Ltd will be the arranger of the bond.
The controller has permitted Shahjalal Islami Bank to give an unending bond worth Tk500 crore to fortify the Tier-1 capital base of the bank.
Shahjalal Islami Bank will give Tk450 crore in bonds through private arrangements, and Tk50 crore through open contributions.
The provisions of the bond are that they are unstable, unexpected convertible, completely settled up, non-aggregate, and Basel-3 agreeable ceaseless bonds.
Financial backers will get a 6-10% premium against the bonds. The assumed worth of the bond units will be Tk5000 for public contributions and Tk5 crore for private situations.
Institutional and other qualified financial backers will be offered the bond units in a private arrangement.
MTB Capital, a nearby speculation bank, will go about as the trustee of the bond, while non-bank monetary organizations Islami Bank Capital Management Ltd and UCB venture Ltd are the issue chiefs of the bond contributions.
Islami Bank Bangladesh has got authorization to give an unending bond worth Tk800 crore to reinforce the extra Tier-1 capital base of the bank.
The bank will raise Tk720 crore by giving bonds through private situations and will give the leftover Tk80 crore out in the open proposition bonds.
The components of the security are that they are unstable, unexpected convertible, completely settled up, gliding rate, non-combined, and Basel-3 agreeable second unending securities.
The presumptive worth of the bond units will be Tk5,000. Institutional and other qualified financial backers will be offered the bond units in a private position.
SBL Capital Management Ltd will go about as the trustee of the bond issue, while non-bank monetary establishments Prime Bank Investment Ltd and UCB speculation Ltd are to be the bond issue chiefs.