Envoy gets nod for Tk 200cr bonds
Envoy Textiles, one of the leading listed textile makers, has got the nod from the stock market regulator to issue zero coupon bonds of Tk 200 crore.
The Bangladesh Securities and Exchange Commission approved the bond yesterday in a commission meeting held at its head office.
The discount rate of the non-convertible, fully redeemable, unsecured bond ranges from 6.50 per cent to 8 per cent. It would be issued through private placement.
Issue price of each lot, comprising 10 bonds, is Tk 20 lakh. With the bond proceeds, the textile maker would buy power plant machineries and repay loans.
The minimum subscription for individuals is Tk 20 lakh and for institutional investors is Tk 1 crore.
UCB Investment is the trustee of the bond while NDB Capital the lead arranger. The bond would be listed with the alternative trading board of stock exchanges.