BSEC approves Tk500cr zero-coupon bond for Akij Food and Beverage Limited

The Bangladesh Securities and Exchange Commission (BSEC) has approved a proposal by Akij Food and Beverage Limited to issue an unsecured, non-convertible, and fully redeemable zero-coupon bond totaling Taka 500 crore.  The approval was finalized today during the commission’s 1004th meeting held at its office in the capital. The session, conducted at the Commission Meeting Room, was presided over by BSEC Chairman Khondoker Rashed Maqsood. 

According to the regulatory decision, the bond is structured with a tenure ranging from a minimum of six months to a maximum of five years. The face value per unit of the instrument has been set at Taka 10 lakh, bringing the aggregate face value of the entire issuance to Taka 500 crore. The commission has authorized the issuance of the bond through private placement. Subscription to the debt instrument is limited to specific categories of eligible investors, including banks, non-bank financial institutions, insurance companies, institutional investors, and high-net-worth individuals.

To facilitate the transaction and ensure regulatory compliance, Sena Insurance PLC has been appointed as the Trustee for the bond. Furthermore, North Star Investments (BD) Limited will serve as the fund arranger for the issuance. BSEC Director and Spokesperson Md. Abul Kalam confirmed the details of the approval through a formal press release, noting that the decision reflects the commission's ongoing mandate to oversee and regulate the country's securities market.