Akij Food secures Tk 500 crore via private zero-coupon bond issuance
Akij Food and Beverage Limited has received approval to raise Tk 500 crore by issuing a zero-coupon bond. The bond, structured as unsecured and non-convertible, will be available exclusively to select corporate investors and high-net-worth individuals through private placement.
North Star Investments (BD) Limited has been appointed as the lead arranger for the issuance, while Sena Insurance PLC will serve as the bond's trustee.
The bond carries a face value of Tk 10 lakh per unit and offers tenures ranging from six months to five years. As a fully redeemable instrument, it does not provide periodic interest payments, aligning with its zero-coupon structure.
While the Bangladesh Securities and Exchange Commission has facilitated similar bond issuances since 2020, public records do not disclose the exact number of companies or institutions that have raised funds through comparable unsecured, non-convertible bonds with the same minimum face value.
The bond's private placement model restricts subscriptions to qualified corporate bodies and affluent individuals. Akij Food and Beverage Limited aims to secure the full Tk 500 crore through this issuance, with North Star Investments and Sena Insurance overseeing the process.
