Standard Chartered Bank has arranged the first Green Zero-Coupon Bond in Bangladesh for Sajida Foundation. The total face value of the bond is Tk 1,000 million.
The proceeds of the bond will be utilized to finance lending to different environmentally friendly and energy-efficient initiatives of the micro-credit and SME clients of Sajida Foundation.
The announcement of the bond was made at a ceremony at the head office of Bangladesh Securities and Exchange Commission (BSEC) in the city, with its Chairman Prof Shibli Rubayat-Ul-Islam as the chief guest, said a recent press release.
Zahida Fizza Kabir, Chief Executive Officer of Sajida Foundation, Naser Ezaz Bijoy, Chief Executive Officer of Standard Chartered Bank Bangladesh, and other senior executives were present on the occasion.
Sajida Foundation will use the proceeds to finance expansion of their microcredit and SME lending portfolio, through investing in new and existing projects with environmental benefits.
The issuance of this security will provide Sajida Foundation with an alternative source of fund, compared to a conventional term loan. Standard Chartered was the mandated lead arranger for the transaction.