Economic Reporter :
Standard Chartered Bank has arranged BDT 2.45 billion Zero Coupon Bond for BSRM Steels Limited. This so far the largest Zero Coupon Bond arranged in this country for any corporate house, according to a press release.
The facility is aimed to finance the company’s capital expenditures, refinance and equity investment in subsidiary company.
Total 10 investors invested in the Zero coupon Bond. Investors composition are: Corporate 66 percent Bank/NBFI 21 percent, Insurance Companies 7 percent and Asset Manager 5 percent. This was a good mix of investors which testifies client’s strong business fundamentals and reputation and as well as lead arrangers strong relationship with the investors for timely closure of the transaction, the press release said.
The closing ceremony took place in Westin Hotel on 2nd June 2016, which was attended by the Group Managing Director of BSRM Group Aameir Alihussain, who is also the Managing Director of BSRM Steels Limited. The ceremony also was attended by the Investors, Trustee and Rating Agency.
Standard Chartered Bank has arranged BDT 2.45 billion Zero Coupon Bond for BSRM Steels Limited. This so far the largest Zero Coupon Bond arranged in this country for any corporate house, according to a press release.
The facility is aimed to finance the company’s capital expenditures, refinance and equity investment in subsidiary company.
Total 10 investors invested in the Zero coupon Bond. Investors composition are: Corporate 66 percent Bank/NBFI 21 percent, Insurance Companies 7 percent and Asset Manager 5 percent. This was a good mix of investors which testifies client’s strong business fundamentals and reputation and as well as lead arrangers strong relationship with the investors for timely closure of the transaction, the press release said.
The closing ceremony took place in Westin Hotel on 2nd June 2016, which was attended by the Group Managing Director of BSRM Group Aameir Alihussain, who is also the Managing Director of BSRM Steels Limited. The ceremony also was attended by the Investors, Trustee and Rating Agency.
