Business news bangladesh City bank introduce debt,equity products in Bangladesh

City bank introduce debt,equity products in Bangladesh: The city bank N.A is working to introduce more debt and  equity products  in the local market shortly,  a senior official said. The  disclosure came after the foreign commercial bank  raised BD Taka 7.7 billion through  amortized local currency  bonds for orascom Telecom Bangladesh  Ltd(OTBL) on a private  placement basis. The OTBL, a subsidiary of Orascom Telecom Holding  S.A.E of Egypt  is the second largest mobile  Telecoms Operator  in Bangladesh. The United states based Citybank N.A Dhaka branch is the sole  mandated lead arranger and placement  agent  in this transaction.This is  the largest bond offering so far in the country the bonds are amortized  over period of 4.5 years. The coupon rate has  been fixed at 13.5 per cent annually. the rang of investor includes bank, no-banking financial institution,general and life insurance  companies funds and corporate house the citybank official added. we remain committed to bringing in more customized solutions for our esteemed clients and have  always  geared  to wards continuous solution building for them the City bank  official told BBN i Dhaka. he also said the Citybank has been working continuously to bring new debt and equity products for  local corporate, mutational corporate and micro finance institution to facilitate their business activities.

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