Agricultural and food processing company Pran Agro has completed the transaction of Tk2,100 million non-convertible and redeemable bond with a 100% on-demand credit guarantee from GuarantCo and full subscription from MetLife Bangladesh on May 19. GuarantCo is rated AA- by Fitch and A1 by Moody's. MetLife Bangladesh is the sole investor of the bond. The subscription will further diversify MetLife's investment portfolio in Bangladesh. The 7-year fixed coupon bond is the first-ever instrument of its kind in Bangladesh and is expected to play a transformational role in supporting alternate sources of infrastructure financing in Bangladesh.  READ: Pran Drinking Water gives food to the needy in Ramadan Pran Agro is working with 100,000 registered contract farmers. The bond proceeds will be used to develop critical infrastructure in the agricultural supply chain and support the company's expansion plans in the local and export markets. The bond is backed by an on-demand guarantee by GuarantCo, part of the Private Infrastructure Development Group, and funded by the governments of the UK, Switzerland, Australia, Sweden, the Netherlands, and France. READ: PRAN-RFL donates safety equipment to health workers Green Delta Company Limited acted as the bond trustee and security agent to the issue. Riverstone Capital Limited, an independent merchant bank based in Bangladesh, acted as financial advisor to Pran Agro and arranger to the issue.