Ashuganj Power approves 5.25% coupon rate

The trustee of the Ashuganj Power Station Company Limited (APSCL) has approved a 5.25% rate for APSCL non-convertible and fully redeemable coupon-bearing bond for the fourth year's first half.

The fourth year's first half period is from 5 January to 4 July 2023.

The record date for entitlement of the bond's coupon rate profit was set for 4 July 2023.

In December last year, the company paid a 5.25% coupon rate for its bond for the third year and second half period from 5 July 2022 to 4 January 2023.

In 2020, the company issued bonds worth Tk500 crore through private placements among state-owned banks and financial institutions to finance its 400MW power plant, which is now under construction.

Acting upon the government's advice to increase tradable bonds on stock exchanges, bonds worth Tk100 crore were sold to general investors through an initial public offering (IPO), with a face value of Tk5,000 per unit.

With a tenure of seven years, the bonds offer an interest rate ranging from 8.50% to 10.50%. They have been traded on the secondary market of the Dhaka Stock Exchange (DSE).

Ashuganj Power is one of the largest power generation companies in Bangladesh. It holds the capacity to generate about 17% of the total electricity generation capacity in the country's public sector.

The company generates about 8.76% of the total electricity generated in the country.

At present, the total capacity of its eight units is 1,690MW.

The company has four upcoming projects with a power generation capacity of 4,440MW.