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Premier Bank to issue 5B taka of subordinated bonds

Premier Bank Ltd. said it would issue nonconvertible subordinated bonds worth 5 billion Bangladeshi taka after receiving approval from the Bangladesh Securities and Exchange Commission.

The bonds, which will be issued through a private placement, will be used to raise capital, according to a Dec. 21 release.

As of Dec. 26, US$1 was equivalent to 79.12 Bangladeshi taka.