Beximco, a leading company, has announced a significant development with the initiation of the issuance process for its “Beximco 1st Zero Coupon Bond.”
The Board of Directors, in its meeting on Sunday, March 10, 2024, approved this strategic move, aiming to raise Tk 1,500 crore. The funds raised will be utilized for the repayment of existing loans and as an investment with Sreepur Township Limited, a Joint Venture partner, for the development of “Mayanagar,” a mixed-use, multipurpose affordable real estate project.
Pending approval from the Bangladesh Securities and Exchange Commission (BSEC), the Board of Directors has also endorsed the terms and conditions of the bond. The “Beximco 1st Zero Coupon Bond” will be issued as secured, redeemable non-convertible, non-tradable instruments, with a substantial issue size of Tk 1,500 crore and a discount rate of 15.00% per annum.
