ICB plans for $1bn bond to help capital market
The state-owned investment company would mainly utilise the proceeds to lend to the market intermediaries who have been looking for low-cost funds for stronger market activities
Investment Corporation of Bangladesh (ICB) is planning to issue bonds worth $1 billion or around Tk8.5 thousand crore to strengthen its support to the capital market.
The state-owned investment company would mainly utilise the proceeds to lend to the market intermediaries who have been looking for low-cost funds for stronger market activities and providing margin loans, according to sources informed about a meeting between the ICB and the Bangladesh Securities and Exchange Commission (BSEC) on Tuesday.
ICB itself might use part of the bond proceeds for market making, or payoff expensive loans, said sources.
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Alongside giving the plan, BSEC is also working to help ICB secure foreign investments in the planned bond.
A Swiss investment bank already expressed its interest to invest in the planned bond against which ICB would pay comparatively low interests in line with the international markets.
