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Standard Bank to issue 4B taka of debt

Standard BankLtd. plans to issue 4 billion taka of nonconvertible subordinateddebt in a private placement.

The bank said July 10 that the debt has a tenor of seven yearsand will be priced with a floating rate of a 2% margin over the averagefixed-deposit rate of private commercial schedule banks of equal credit ratingfor six months.

The issuance is subject to regulatory approval.

As of July 8, US$1 wasequivalent to 78.41 Bangladeshi taka.