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Union Cap to issue Tk 2.0b unsecured bond

FE Report | Published: June 18, 2019 10:27:27 | Updated: June 19, 2019 11:19:12


The board of directors of Union Capital has decided to issue unsecured subordinated redeemable non-convertible bond of Tk 2.0 billion in face value through private placement.

Face value per unit (lot size) of the bond is Tk 10 million only with seven years tenure, grace period two years and coupon range is 9.0 per cent to 12 per cent per year, according to a disclosure on Monday.

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 said.

The board has also informed that earlier board decision taken on 07 May 2017 to issue unsecured subordinated redeemable non-convertible bond for Tk 2.50 billion has been cancelled due to unavoidable reason.

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