BSEC approves Premier Bank's perpetual bond

| Updated: December 03, 2021 08:52:19

BSEC approves Premier Bank's perpetual bond

The securities regulator has approved the proposal of perpetual bond worth Tk 2.0 billion to be issued by Premier Bank.

The approval came Tuesday at a meeting held at the office of Bangladesh Securities and Exchange Commission (BSEC).

At Tuesday's meeting, the securities regulator also approved draft prospectus of Ekush Growth Fund expanding its initial size.

As per the BSEC approval, Premier Bank will raise Tk 2.0 billion issuing perpetual bond to strengthen its additional Tier-I capital base.

The units worth Tk 1.8 billion will be issued through private placements while the remaining units worth Tk 200 million will be issued through public offer.

MTB Capital is working as trustee while UCB Investment is the arranger, issue manager and underwriter of the bond.

As per the BSEC approval, the initial size of Ekush Growth Fund, an open-end mutual fund, will be Tk 200 million instead of Tk 100 million.

Ekush Wealth Management is the asset manager of the fund. Sandhani Life Insurance Company and BRAC Bank are working as trustee and custodian of the bond respectively.

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