Standard Chartered Bank has arranged BDT 650 million Zero Coupon Bond for ACI Godrej Agrovet Private Limited, a joint venture company formed by ACI Limited of Bangladesh and Godrej Agrovet Limited of India.
The fourth such Zero Coupon Bond issued, the facility is aimed to finance the company’s capital expenditures and to refinance its existing debt.
The entire amount of the Zero Coupon Bond has been subscribed by four corporate houses of the country. This testifies to issuer’s strong business fundamentals and reputation and as well as the lead arranger’s strong relationship with investors.
The closing ceremony took place in Westin Hotel on 20th October 2016, which was attended by Dhruba Jyoti Banerjee, Managing Director of ACI Godrej Agrovet Private Limited and Abrar A. Anwar, Chief Executive Officer of SCB Bangladesh.
“Standard Chartered is delighted to be the Mandated Lead Arranger for this landmark transaction,” said Abrar A. Anwar, “Standard Chartered always strives to bring in new products to this market. I would like to thank the investors, regulators and other stake holders for their ongoing contribution in helping Standard Chartered develop and lead the debt market in Bangladesh.”
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