Standard Chartered Bank has arranged the first ever Green Bond in Bangladesh for PranAgro Limited, a concern of PRAN-RFL Group, said a press release.
The total face value of the bond is BDT 1.50 billion. The proceeds of the bonds will be utilised to finance green and energy-efficient initiatives of PRAN Agro Limited.
Financial closure ceremony was arranged at the Head office of PRAN-RFL Group. Ahsan Khan Chowdhury, Chairman, PRAN RFL Group; Naser Ezaz Bijoy, Chief Executive Officer, Standard Chartered Bank, Bangladesh;Uzma Chowdhury, Finance Director, and Fakhrul Ahsan, Manager, Corporate Finance, PRAN-RFL Group; Enamul Haque, Managing Director & Head of Client Coverage, CCIB; Muhit Rahman, Managing Director & Head of Financial Markets; Md Maroof ur Rahman Mazumder, Head of Financing Solutions, all representing Standard Chartered Bank, Bangladesh was present on the occasion.
PRAN Agro Limited will use the proceeds this bond for initiatives such as recycling waste water, climate action through waste decomposing, building sustainable communities by providing employment among rural and poverty-stricken communities, preserving life on land through contract-based organic farming. Standard Chartered was the mandated lead arranger for this transaction.
