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Dutch-Bangla Bank to raise 3B taka in bond issue

Dutch-BanglaBank Ltd. is seeking to raise 3 billion taka through an issuance ofnonconvertible and subordinated bonds in a private placement.

The unsecured bonds will have a tenure of seven years, accordingto a May 8 statement.

Proceeds from the issuance will be used to increase thebank's Tier 2 capital requirement under Basel III and to strengthen its capitalbase.

As of May 6, US$1 wasequivalent to 78.38 Bangladeshi taka.