BRAC Bank to issue Tk1,000cr social bond
BRAC Bank has decided to raise Tk1,000 crore through issuing social subordinated bond subject to approval from the regulatory authorities.
The leading private sector lender took the decision at a board meeting held on 4 June, according to the disclosure published on its website.
The bank said, the tenure of the coupon bearing, unsecured and fully redeemable bond would be for seven years.
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According to the disclosure, the bond will help the bank strengthen its tier 2 capital base.
The bond amount will use to support its commitment to social development, it added.
