City Bank issues Tk 500cr bonds

City Bank has recently completed the process of issuing coupon bearing subordinated bonds worth Tk 500 crore in Bangladesh, the bank yesterday said in a statement.

RSA Capital Ltd and City Bank Capital Resources Ltd are the prime arrangers of the issuance process of these bonds.

The issue of bonds has enhanced City Bank's Tier II capital as per Bangladesh Bank's requirement.

As a result, this has also led to the increase of the bank's Capital Adequacy Ratio.

The participating banks and institutions which have subscribed to the bonds are One Bank, Rupali Bank, Janata Bank, Sonali Bank, Pubali Bank, Mercantile Bank, Uttara Bank, Agrani Bank, Dhaka Bank, Standard Bank and Dhaka Stock Exchange.

In a ceremony organised at the bank's head office in Dhaka, Sohail R K Hussain, CEO of City Bank, has expressed sincere gratitude towards the subscribers and parties who were involved in the issuance process, according to the statement.