Dhaka, Sept. 29 -- The Bangladesh Securities and Exchange Commission (BSEC) on Tuesday approved proposals from five commercial banks to raise a combined Tk 3,500 crore through bond issues to strengthen their capital base.

The decisions were taken at the commission's 1031st meeting, held at its office in Agargaon with BSEC Chairman Masud Khan in the chair.

The commission approved a Tk 400 crore unsecured, non-convertible, fully redeemable, floating rate subordinated bond (Bond-VI) of One Bank PLC.

The coupon rate will be the reference rate plus 3 percent. It will be issued through private placement to institutional and high-net-worth individual investors, with a face value of Tk 1 lakh per unit.

Green Delta Capital Limited will act as ...