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Monday, July 4, 2022

Bangla Bond debuts on London Stock Exchange

The first ever Bangladeshi Taka-denominated bond dubbed “Bangla Bond”, amounting equivalent to US$ 10 million, debuted on November 10 on the London Stock Exchange (LSE).

The Bangla Bond was listed on the LSE by the International Finance Corporation (IFC), a private sector arm of World Bank, at a ring bell ceremony at 8 am London time, said a press release of Bangladesh High Commission in London.

Following the ring bell ceremony, an “Investor’s Roundtable” to showcase Bangladesh’s growth story and investment opportunities was held, jointly organized by the IFC and LSE.

Speaking on the occasion, Finance Minister A H M Mustafa Kamal highlighted Bangladesh’s robust economic growth and major macro economic development under the leadership of Prime Minister Sheikh Hasina.

He hoped Bangla Bond would help to raise money from overseas investment, which will be invested back in Bangladesh for further strengthening its private sector.

This bond will have a 3-year maturity, with a 6.3 pe rcent annual rate of interest. The IFC will be the guarantor of this bond in the international market.

Prime Minister’s Private Industry and Investment Affairs Adviser Salman Fazlur Rahman and Bangladesh High Commissioner to United Kingdom Saida Muna Tasneem also attended the enlistment ceremony and the roundtable.

IFC Vice-President for Asia and Pacific Nena Stoiljkovic also spoke.

A large number of UK government and IFC officials and investors from UK and Bangladesh were present.

Besides, the LSE also hosted a press briefing on the debut of Bangla Bond at its premises.

Mustafa Kamal and Salman Fazlur Rahman addressed the briefing, alongside Nena Stoiljkovic, IFC Treasury Client Solutions Director Keshav Gaur and IFC South Asia Director Mengistu Alemayehu.

Bangladesh High Commission in London also hosted a “Bangladesh Investment Dialogue” recently to celebrate the “The Ring, The Bell” ceremony of the listing of the “Bangla Bond”.

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