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City Bank issues 5B taka of subordinated bonds

City Bank Ltd. issued 5 billion Bangladeshi taka of subordinated bonds, The Daily Star reported Aug. 15, citing a statement from the lender.

The bond issuance enhanced the bank's Tier 2 capital and raised its capital adequacy ratio.

RSA Capital Ltd. and City Bank Capital Resources Ltd. acted as the prime arrangers for the issuance.

As of Aug. 14, US$1 was equivalent to 80.90 Bangladeshi taka.