Bangladesh Export Import Company Limited (BEXIMCO) will issue Tk 15 billion zero coupon bond on April 28, 2024.
The BEXIMCO has announced the commencement of subscription for the ‘Beximco 1st Unsecured Zero Coupon Bond’ on Thursday.
The first tranche of the subscription will be closed on May 15, 2024, the company informed through issuing a official release.
The Bangladesh Securities and Exchange Commission (BSEC)’s approved to issue the bond on April 3, 2024, authorizing BEXIMCO to issue bonds totaling Tk15 billion, according to a press release.
IFIC Investment Limited is the arranger and Sandhani Life is the trustee of this bond. The Beximco 1st Unsecured Zero Coupon Bond offers a discounted rate of 15 percent, the highest in the market, translating to a monthly return of Tk1,250 per lakh, it said.
This non-convertible, redeemable, unsecured bond aims to raise Tk15 billion, of which Tk10 billiobn will be used for providing as a loan to Sreepur Township Limited for the development of the Mayanagar project, while the remaining Tk5 billion will be used to repay existing bank loans of Beximco Ltd.
The investment is particularly attractive due to its high return rate, where an investment of Tk 1:0 lakh will yield a total return of Tk 175,000 at the end of five years, including the principal amount. The returns are especially appealing for Non-Resident Bangladeshis (NRBs) and local wage earners, offering one of the best investment avenues available.
The bond subscription has a minimum investment threshold of Tk 50,000, with no upper limit, making it accessible to a broad range of investors. This opportunity is available on a first-come, first-served basis, emphasizing its limited nature and the potential for a quick sell-out due to its attractive features.
Investors interested in the Beximco 1st Unsecured Zero Coupon Bond can begin subscribing on April 28, 2024 and the first tranche of subscription will be closed on May 15, 2024.
