The Bangladesh Securities and Exchange Commission (BSEC) has approved the issuance of Tk 150 crore bonds by Navana Pharmaceuticals PLC, a listed company in the capital market's pharmaceuticals and chemicals sector. The company's bank has decided to issue this bond to repay the loan.
On Thursday (March 28), Dhaka and Chittagong Stock Exchange (DSE-CSE) informed this information.
The bond will be sold at a discount of 8 to 10 percent. Its face value per unit is Tk 1 lakh. The money raised through the bond issue will be used by the company to repay the bank loan. Prime Bank Investment Limited is the trustee of this bond and City Bank Capital Resources Limited is the arranger.
The bond will be listed on the Alternative Trading Board.
Earlier, BSEC Chairman Professor Shibli Rubaiyat-ul-Islam presided over the 887th Commission meeting to approve the bond. The bond worth Tk 150 crore will be an unsecured, coupon bearing bond.