Aamra Networks gets nod for Tk100cr bond
Through a private placement, the bond can only be issued to financial institutional investors, banks and qualified individual investors
The securities regulator has allowed Aamra Networks Limited to issue a non-convertible zero-coupon bond worth Tk100 crore.
The Bangladesh Securities and Exchange Commission (BSEC) granted the permission during a meeting at its head office in Dhaka on Wednesday.
The other aspects of the bond are it is fully redeemable, unsecured and unlisted. Its coupon rate will be 8.68%-9.73%.
Keep updated, follow The Business Standard's Google news channel
Through a private placement, the bond can only be issued to financial institutional investors, banks and qualified individual investors.
The listed company will repay bank loans, implement a new project and meet the requirement for working capital from the money collected through the bond.
The face value of the bond units will be Tk1 crore each.
Prime Bank Investment Ltd has been named as the trustee of the bond and LankaBangla Investments Ltd has been made the mandated lead arranger for the company.
Aamra Networks got listed on stock exchanges in 2017.
