State-run Ashuganj Power Station Company Ltd is going to raise Tk 600 crore by issuing bonds for the first time.
Of the amount, Tk 500 crore will be collected through private placement and the rest through stock markets.
The power producer signed an agreement with seven banks and financial institutions to raise the private placement portion of the fund at a program at the InterContinental Dhaka hotel recently.
Bangladesh Infrastructure Finance Fund, Agrani Bank, Rupali Bank, Sonali Bank, Uttara Bank, Sadharan Bima Corporation, and the Investment Corporation of Bangladesh will purchase bonds worth Tk 385 crore.
Dutch-Bangla Bank will purchase bonds worth Tk 50 crore, said an official of the Power Division. Bonds worth Tk 65 crore will be sold to other banks and financial institutions later. Bonds valued Tk 100 crore will soon be released through stock exchanges and work on it has already begun, said the official.
The yield on the bonds will be 8.5 percent to 10 percent.
