Nagad, the mobile financial services arm of Bangladesh Postal Department, is set to issue a zero-coupon bond of BDT 5 billion with a face value BDT 7.5 billion at the end of its five-year maturity, in a first for a mobile financial services provider in Bangladesh, a release said.
Kiu Global, a US-based digital services company, has already expressed interest to subscribe a BDT amount equivalent to USD 30 million of the mentioned bond.
The announcement of the landmark issue was made on Monday in New York in the US during an investor show styled “The Rise of Bengal Tiger: Potentials of Trade & Investment in Bangladesh” organized by the Bangladesh Securities and Exchange Commission (BSEC).
Nagad, which is one of the key partners of the event, has received initial approval from the BSEC for the bond issue.
Riverstone Capital is acting as the arranger of the bond wherein Green Delta Capital will be the trustee.
