MetLife invests Tk 257.5cr in Runner bond

MetLife Bangladesh has invested Tk 257.5 crore in a sustainability bond issued by Runner Automobiles Ltd. 

A sustainability bond is a fixed-income instrument designed to support specific climate-related or environmental projects.

Runner plans to raise Tk 267 crore from the bond to facilitate access to credit for customers wishing to purchase three-wheelers with low emissions, including electric-powered ones.

The funds will also be used to construct a 4MW rooftop solar plant for a manufacturing facility of Runner.

This initiative is expected to enable around 7,000 people become owners of three-wheelers, leading to income-generating prospects through taxi services and for vehicle maintenance companies.

The Runner bond is guaranteed by GurantCo, which is a part of Private Infrastructure Development Group. Green Delta Capital Limited is the arranger and advisor and DBH the trustee.

This investment will contribute to the growth of Bangladesh's bond market, MetLife said in a press release yesterday.

With the funding, MetLife's overall investments in the country's financial sectors will reach over Tk 17,000 crore, it said.