Economic Reporter :
The board of directors of Uttara Finance and Investment Ltd will issue non-convertible zero coupon bonds through private placement at a discounted issue price of more than Tk 3.73 billion.
Total face value of the bond is Tk 5.0 billion, maturity period five years from issue date, denomination of each bond is indicated Tk 5.0 lac and the indicative discount rate is 10.50 per cent, said an official disclosure on Tuesday.
Purpose of issuance of the bond is for expansion of existing lending business, diversification of funding sources, bond market development etc.
The issuing of bonds is subject to the approval of the regulatory authorities – Bangladesh Bank (BB) and Bangladesh Securities and Exchange Commission (BSEC), the disclosure added further.
Each share of the non-bank financial institution, which was listed on the Dhaka Stock Exchange (DSE) in 1997, closed at Tk 53.90 on Monday.
The board of directors of Uttara Finance and Investment Ltd will issue non-convertible zero coupon bonds through private placement at a discounted issue price of more than Tk 3.73 billion.
Total face value of the bond is Tk 5.0 billion, maturity period five years from issue date, denomination of each bond is indicated Tk 5.0 lac and the indicative discount rate is 10.50 per cent, said an official disclosure on Tuesday.
Purpose of issuance of the bond is for expansion of existing lending business, diversification of funding sources, bond market development etc.
The issuing of bonds is subject to the approval of the regulatory authorities – Bangladesh Bank (BB) and Bangladesh Securities and Exchange Commission (BSEC), the disclosure added further.
Each share of the non-bank financial institution, which was listed on the Dhaka Stock Exchange (DSE) in 1997, closed at Tk 53.90 on Monday.
