Dhaka, Aug. 25 -- The Bangladesh Securities and Exchange Commission (BSEC) has approved a proposal by Meghna Bank PLC to issue a Tk 400 crore non-convertible, unsecured, fully redeemable, floating rate subordinated bond.

The approval was granted on Tuesday during the 1026th commission meeting presided over by BSEC Chairman Masud Khan at the BSEC headquarters in Dhaka.

BSEC proposes major amendments to margin loan rules

The tenure of the bond will be seven years, carrying a coupon rate based on the reference rate plus a 3 percent margin. The face value per unit of the bond has been set at Tk 5,00,000.

Meghna Bank will issue the bond through private placement to corporate institutions, high-net-worth individuals, banks and financial ins...