SJIBL to issue bond worth Tk 500cr

The board of directors of Shahjalal Islami Bank Limited (SJIBL) has decided to issue bond of Tk 500 crore.

In a filing with the Dhaka Stock Exchange (DSE) on Sunday, the company said that the bond will be issued through private placement.

The company will issue seven-year non-convertible unsecured fully-redeemable floating rate ‘SJIBL 3rd Mudaraba Subordinated Bond’. 

Through this, the company will raise Tk 500 crore. The company will issue the bond to strengthen Tier-II capital of the bank as per requirement under Basel III.

The company will issue the bond subject to the approval of the regulatory authorities and compliance of all formalities in this respect.