PRAN organized a virtual program Monday afternoon to celebrate the successful issue of the first BDT (Taka) Bond with international guarantee in Bangladesh.
Recently PRAN Agro, a sister concern of PRAN-RFL Group, successfully achieved financial closure of a landmark BDT 2,100 million non-convertible, redeemable bond.
It is the first such bond guaranteed by GuarantCo or other international DFIs, the first to be subscribed by an international insurance company and the country’s first directly issued digitized bond under Private Placement of Debt Securities Rules.
The bond will be used to develop critical infrastructure in the agricultural supply chain and support PRAN Agro’s expansion plans in the local and export markets.
Salman F Rahman, PM’s private industry and investment advisor said that the bond market is a vibrant sector and alternative source for collecting long term finance for entrepreneurs along with Bank.
If more international guarantors come in the market, it will be strong and others company will be willing to come, he said.
Ahsan Khan Chowdhury, Chairman and CEO at PRAN-RFL Group said bond market was yet to develop in Bangladesh.
He hoped that it will develop and entrepreneurs will come to meet its huge financing requirement.