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Bangla Bond to be listed on London Stock Exchange Monday

Bangla Bond to be listed on London Stock Exchange Monday

The first-ever Bangladeshi Taka-denominated bond titled “Bangla Bond” will be listed on the London Stock Exchange (LSE) on Monday.

Initially, the Bangla Bond will be equivalent to US$10 million on the London bourse. This bond will have a three-year maturity, with a 6.3 percent annual rate of interest.

The International Finance Corporation (IFC), a sister concern of the World Bank, is set to float the bond, said the Bangladesh High Commission in London on Sunday.

The IFC will be the guarantor of this bond in the international market.

The proceeds from this bond in the European market will be invested back in Bangladesh for development of its private sector.

“The Ring, The Bell” ceremony of the listing of bond will be held at the LSE, which will be followed by an ‘Investor’s Roundtable’ to showcase Bangladesh’s growth story and investment opportunities.

IFC and LSE will be jointly organising the roundtable, said the Bangladesh High Commission in London.

Finance Minister AHM Mustafa Kamal, Prime Minister’s Private Sector Industry and Investment Adviser Salman F Rahman and High Commissioner to UK Saida Muna Tasneem will attend the enlistment ceremony and the roundtable.

The LSE will brief the media on the listing from 9:45am-10:15am on Monday.

Bangladesh Finance Minister, Prime Minister’s Private Sector Industry and Investment Advisor, IFC Vice-President for Asia and Pacific Nena Stoiljkovic, IFC Treasury Client Solutions Director Keshav Gaur and IFC South Asia Director Mengistu Alemayehu will speak at the press briefing.

Bangladesh High Commission in London will also host a “Bangladesh Investment Dialogue” on Monday, at the St James’ Court (Taz Hotel) from 5-7pm to celebrate the “The Ring The Bell” ceremony of the listing of the “Bangla Bond”.

source: UNB

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