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One Bank gets approval for Tk 400 crore bond

One Bank has got approval from the regulator to issue a fully redeemable, non-convertible, unsecured floating rate subordinated bond worth Tk 400 crore.

In a disclosure on Dhaka Stock Exchange website, the private commercial bank today said the Bangladesh Securities and Exchange Commission has given its consent to issue the bond.

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The lender also said that the subordinated bond would be issued to increase its tire-II capital through issuance of under private placement with a tenure of seven years.

The issuance of the bond will help the bank to grow its investment and loan portfolio, it added.