StanChart arranges PRAN Agro’s Tk 1.5bn green bond sale
Staff Correspondent, bdnews24.com
Published: 27 Nov 2021 10:42 PM BdST Updated: 27 Nov 2021 10:42 PM BdST
PRAN Agro Limited will raise Tk 1.5 billion through bonds to fund the company’s green and energy-efficiency projects.
PRAN Agro, a unit of PRAN-RFL Group, will use the proceeds to finance waste water recycling, waste decomposing and contract-based organic farming, according to a statement issued by Standard Chartered Bank, the lead arranger of the bonds.
“We see significant potential in the green finance space in Bangladesh, and look forward to more exciting developments in the future,” said Ahsan Khan Chowdhury, chairman of PRAN RFL Group.
Naser Ezaz Bijoy, CEO of Standard Chartered Bangladesh, said: “We hope that the bonds will pave the way for others – highlighting that finance can play a role as an important force for good.”
The debt instruments have been labelled as “green bonds” as the funds will go into climate and environmental projects.
SAJIDA Foundation, an NGO focused on improving health outcomes of the poor, was the first in Bangladesh to win approval from the Securities and Exchange Commission on Apr 7 to raise Tk 1 billion from the capital market by issuing green bonds. It has cleared some other hurdles, but is yet to issue the bonds.
The BSEC greenlighted PRAN Agro’s green bonds in July.
-
India's July palm oil imports may surge to 10-month high
-
BB targets Tk 4.43bn loan for rawhide trade
-
Soaring gas prices fuel inflation concerns
-
MNH Bulu sues UCB over ‘false charges’
-
Shell joins Qatar's LNG expansion mega-project
-
Cleinsight aims to go global
-
IKEA reopens for online fire sale in Russia
-
Samsung Q2 solid on server-chip demand
-
FBCCI backs govt plan to ration power for undisrupted production
-
India's July palm oil imports may surge to 10-month high as prices plunge
-
Market research startup Cleinsight aims to go global
-
European shares slide as soaring gas prices fuel inflation concerns
-
Bangladesh to disburse Tk 4.43bn loans in rawhide trade this Eid
-
Businessman MNH Bulu seeks Tk 400m in damages against United Commercial Bank over ‘false charges’
Most Read
- Life in Dhaka takes a hit as blackouts are back with vengeance
- Ex-BCL leader sets himself on fire at Press Club in Dhaka
- Bangladesh is gearing up to open its first river tunnel by the end of 2022
- New footage shows delayed medical response to George Floyd
- Bangladesh to celebrate Eid-ul-Azha on Jul 10
- Ajmer Sharif cleric arrested over 'incendiary remarks' against Nupur Sharma
- Drastic fall in passenger numbers forces owners to cut Dhaka-Barishal launch fares
- A BGB woman gives birth near Padma Bridge toll plaza
- Grim power outlook as Hasina flags surging cost amid energy crisis
- Bangladesh jails teacher for 8 years over 'blasphemous' Facebook posts