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Bsec Opens Bd Investment Roadshow In New York

Nagad to issue Tk 5b zero-coupon bond

Published : Wednesday, 28 July, 2021 at 12:00 AM  Count : 941

(From right to left) BSEC Chairman Prof Shibli Rubayat-Ul-Islam, Nagad Chairman Sayed Md. Kamal, Kiu Global CEO Steven Landman, Nagad Managing Director Tanvir A Mishuk, Senior Secretary of Bangladesh Finance Division Abdur Rouf Talukder and Nagad Finance and Investment Advisor Zahedul Arefin are holding a mentor to mark the $30 million Kiu Global for Nagad at Bangladesh investment roadshow in in New York on Monday.

(From right to left) BSEC Chairman Prof Shibli Rubayat-Ul-Islam, Nagad Chairman Sayed Md. Kamal, Kiu Global CEO Steven Landman, Nagad Managing Director Tanvir A Mishuk, Senior Secretary of Bangladesh Finance Division Abdur Rouf Talukder and Nagad Finance and Investment Advisor Zahedul Arefin are holding a mentor to mark the $30 million Kiu Global for Nagad at Bangladesh investment roadshow in in New York on Monday.

Bangladesh Securities and Exchange Commission (BSEC) opened an eight-day investment road-show in the United States with the inaugural session in New York on Monday (July 26).
Under the road show a business conferences is scheduled to be held in Washington today (July 28), in Los Angeles on Friday (July 30 and at the Silicon Valley of Santa Clara on August 2.
The opening session of the road show was attended among others by Salman Fazlur Rahman MP, Private Industry and Investment Adviser to the Bangladesh Prime Minister Sheikh Hasina; Abdur Rouf Talukder, Senior Secretary of the Finance; Professor Shibli Rubayat-Ul-Islam, Chairman of BSEC; Tapan Kanti Ghosh, Secretary of Ministry of Commerce; Md. Sirazul Islam, Executive Chairman of Bangladesh Investment Development Authority (BIDA); Major General Md Nazrul Islam, Executive Chairman of Bangladesh Export Processing Zones Authority (BEPZA); Steven Landman, Chief Executive Officer of Kiu Global, were also present at the declaration event in New York along with other high-level delegates from Bangladesh.
In the opening session Nagad, the mobile financial services arm of Bangladesh Postal Department, signed a deal with Kiu Global, a US-based digital services company, to acquire a subscription equivalent to $30 million of the mentioned bond, for issuing a zero-coupon bond of Tk 5 billion with a face value Tk 7.5 billion at the end of its five-year maturity, in a first for a mobile financial services provider in Bangladesh, according to a Nagad press release.
Strong interest from many foreign investors has already been sighted since the announcement of the bond for the DFS disruptor in Bangladesh.
Reportedly, Kiu Global, a US-based digital services company, has already expressed interest to subscribe a taka amount equivalent to $30 million of the mentioned bond, says a press release.
The announcement of the landmark issue was made on Monday in New York in the US during an investor show styled "The Rise of Bengal Tiger: Potentials of Trade and Investment in Bangladesh" organized by the Bangladesh Securities and Exchange Commission (BSEC). Nagad, which is one of the key partners of the event, has received initial approval from the BSEC for the bond issue.
The BSEC has organized this investment roadshow with the view to showcasing the strength and opportunities of business and investment in Bangladesh for foreign investors. High-level delegates from Bangladesh and the US, along with business conglomerates and investors are attending different seminars in New York, Washington DC, Los Angeles (California) and Silicon Valley (Santa Clara).
Riverstone Capital is acting as the arranger of the bond wherein Green Delta Capital will be the trustee. Nagad, the fastest growing mobile money company in the world, will use the proceeds from the bond subscription for future readiness of the company's digital infrastructure; development of network, hardware and the digital financial service platform; purchase IT equipment; marketing and promotional activities; and working capital financing.  All these are aimed at accelerating the Digital Bangladesh initiative of Prime Minister Sheikh Hasina and will be an integral part of that.
Prof Shibli Rubayat-Ul-Islam said, "The BSEC, in collaboration with our ecosystem of regulators and stakeholders, is working towards the development of Bangladesh's capital markets, particularly debt market, which will be vital for financing long-term needs of our industries and infrastructure.
Nagad Managing Director and Co-founder Tanvir A Mishuk said: "With the development of the capital market in Bangladesh, the bond market has also become vibrant in recent past. We consider this as a better source to raise investment. Moreover, Nagad has always been innovative and that is why we chose bond market over traditional.







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