Bangladesh Securities and Exchange Commission (BSEC) on Wednesday approved a Tk 500 crore zero-coupon bond for Akij Food and Beverage Limited to support its financing needs.
The approval came at the commission’s 1004th meeting held at the BSEC office in Agargaon, chaired by BSEC Chairman Khondker Rashed Maqsood.
According to a press release, the unsecured, non-convertible and fully redeemable bond will have a tenure ranging from six months to a maximum of five years.
The bond will be issued through private placement to banks, non-bank financial institutions, insurance companies, institutional investors and high-net-worth individuals.
Each unit of the bond will carry a face value of Tk 10 lakh.
Sena Insurance PLC will act as the trustee, while North Star Investments (BD) Limited has been appointed as the fund arranger.