Southeast Bank Ltd. plans to issue 5 billion Bangladeshi taka of nonconvertible subordinated bonds on a private placement basis.
The seven-year floating-rate bonds were priced at par, according to a March 7 release.
Proceeds from the issuance will be used to increase the Tier 2 capital of the bank.
The Bangladesh Securities and Exchange Commission approved the issuance.
As of March 7, US$1 was equivalent to 83.04 Bangladeshi taka.
