NBL to issue Tk 4b subordinated bonds

The board of directors of National Bank Limited has decided to issue subordinated bonds worth Tk 4.0 billion, said an official disclosure on Monday.

The bank will issue the bond for raising fund to meet capital requirement under Basel III and to strengthen the regulatory capital base of the bank.

The bond issuance is subject to approval from the concerned regulatory bodies - Bangladesh Securities and Exchange Commission and Bangladesh Bank, said the disclosure.

The National Bank was listed on the Dhaka bourse in 1984. The bank belongs to the “A” category.

The bank’s paid-up capital is Tk 30,000 million and authorised capital is Tk 19,753.80 million, while total number of securities is 1,975,377,912, according to statistics from the DSE.

The sponsor-directors own 27.95 per cent stake in the bank, while institutional investors own 24.64 per cent, foreign investors 2.80 per cent and the general public 44.61 per cent as of September 29, 2016.

Each share of the bank closed at Tk 9.60 on Sunday.