National Bank to raise $100m by issuing bonds

National Bank Ltd has decided to raise $100 million by issuing foreign currency-denominated subordinated bonds in order to strengthen its capital base under Basel Ill guidelines. 

The board of the private commercial bank has taken a decision to this effect, according to a post on the Dhaka Stock Exchange yesterday. The term of the bond would be seven years.

Shares of NBL were unchanged at Tk 8.30 on the DSE yesterday.