Pran Agro is going to raise funds of Tk 262.5 crore form institutional investors and high-net worth people by issuing bonds.

The Bangladesh Securities and Exchange Commission (BSEC) approved the bond today at a commission meeting, said a press release.

The bond would be guaranteed, unsecured, transferrable, redeemable, and non-convertible. Coupon rate of the bond is 8.88 per cent.

This is the second bond of Pran Agro, which raised Tk 210 crore by issuing its first bond in 2021.

Face value of each unit of the bond is Tk 10 lakh. The company will spend the bond proceeds on office and factory building, buying machineries and repayment of loans.

Green Delta Capital is the trustee of the bond and Riverstone Capital is its arranger.

The BSEC gave a condition to get the bond listed in the alternative trading board.