Thursday, 26 November, 2020, 6:46 PM
latest Laundering of Tk 236cr: Ex-AB Bank chairman, 9 directors, officials sued      
Home Business

Mercantile Bank seeks to issue Tk 5b bonds

Published : Monday, 23 November, 2020 at 12:00 AM  Count : 60
Business Correspondent

The board of directors of Mercantile Bank, which is listed on the stock exchange, has expressed their desire to issue coupon bearing bonds worth Tk5 billion.
The bond will be released with the approval of the regulator, the Dhaka Stock Exchange (DSE) said on Sunday.
The name of this coupon bearing bond will be 'Mercantile Bank Third Sub-Coordinated Bond'. This bond will be released as part of fulfilling the Tier-2 conditions of Basel-3.
Based on information provided by the bank's authorities, the DSE said the bond would be released through a private placement. However, the nature of the bond will not be disclosed.
The bank will be able to issue the bonds after getting the approval of Bangladesh Bank, the regulator of the banking sector, and Bangladesh Securities and Exchange Commission (BSEC), the regulator of the capital market.

« PreviousNext »

Latest News
Most Read News
Editor : Iqbal Sobhan Chowdhury
Published by the Editor on behalf of the Observer Ltd. from Globe Printers, 24/A, New Eskaton Road, Ramna, Dhaka.
Editorial, News and Commercial Offices : Aziz Bhaban (2nd floor), 93, Motijheel C/A, Dhaka-1000. Phone: PABX 9586651-58; Online: 9513959; Advertisement: 9513663
E-mail: [email protected], [email protected], [email protected], [email protected],   [ABOUT US]     [CONTACT US]   [AD RATE]   Developed & Maintenance by i2soft