Brac Bank to issue Tk 700 crore bond

Brac Bank Ltd has decided to issue bonds in order to raise up to Tk 700 crore to enhance its capital base.

The board of directors has decided to issue the subordinated, non-convertible, fully redeemable, coupon-bearing, floating rate subordinate bond for seven years under private placement in a bid to enhance the Tier-II capital base, said the private commercial lender in a post on the Dhaka Stock Exchange yesterday.