Brac to raise Tk 1,350cr through bonds Star Business Report Star Business Report
Brac, a non-listed non-government organisation, has received the nod from the stock market regulator to raise Tk 1,350 crore by issuing zero-coupon bonds.
A zero-coupon bond is a debt security that does not pay interest. Instead, it trades at a discount, rendering a profit at maturity, when the bond is redeemed for its full face value.
The Bangladesh Securities and Exchange Commission (BSEC) yesterday approved the bond, whose face value is Tk 1 crore, according to a press release.
The bond is unsecured, non-convertible, and fully redeemable, and its tenure is one and half years to five years. Corporate investors and high net-worth individuals are eligible to buy the bonds through private placement.