IFIC Bank to issue Tk 500cr bond

IFIC Bank has decided to issue a Tk 500-crore non-convertible coupon bearing subordinated bond. 

In a posting on the Dhaka Stock Exchange yesterday, the private commercial lender informed that the board had decided to issue the bond.

This is the fourth non-convertible coupon-bearing subordinated bond for Tier 2 capital as per BASEL III and is subject to the approval of the Bangladesh Securities and Exchange Commission and the Bangladesh Bank.

Shares of IFIC Bank closed up 4.88 per cent on the DSE yesterday.