Premier Bank Ltd has received permission from the Bangladesh Securities and Exchange Commission (BSEC) to raise Tk 600 crore by issuing bonds.
The BSEC approved the bank's plan aimed at raising its Tier 2 capital by Tk 600 crore for seven years, said the lender in a filing on DSE yesterday.
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The face value of the fully redeemable, non-convertible, unsecured, floating rate and Basel III-compliant subordinated bond will be Tk 60 lakh.
The purpose of mobilising the fund is to have regulatory capital support of the bank under the Tier 2 category of Basel III.
Tier 2 capital includes revaluation reserves, hybrid capital instruments and subordinated term debt, general loan-loss reserves, and undisclosed reserves.
