Dhaka: The Bangladesh Securities and Exchange Commission (BSEC) has approved a proposal by City Bank PLC to raise Tk 1,200 crore through a subordinated bond. The decision was made during the 907th Commission Meeting, which was led by BSEC Chairman Khondoker Rashed Maqsood, as stated in a press release.
According to Bangladesh Sangbad Sangstha, the Commission has authorized City Bank PLC to issue the bond to strengthen its capital base. This bond will be offered through private placement to institutional investors, banks, corporate entities, individual investors, and mutual funds. To ensure liquidity and the availability of a secondary market, BSEC has mandated that the bond be listed on the Alternative Trading Board (ATB).
In addition to the new approval, BSEC has granted extensions for the consent periods of bond issuances for Jamuna Bank PLC and Trust Bank PLC. The Commission extended the deadline to September 30, 2026, for the completion of the Tk 800 crore Non-Convertible, Unsecured, Fully Redeemable, Floating Rate Subordinated Bond issuance. All other terms and conditions of the original consent remain unchanged.
An extension was also provided for the Tk 500 crore Unsecured, Non-convertible, Redeemable, Floating Rate Subordinated Bond VIII. The deadline for this issuance has been moved to September 30, 2026, with the original terms and conditions remaining in effect.