Trading of City Bank Perpetual Bond commenced on the Dhaka Stock Exchange under settlement category “N” on Monday. DSE trading code for City Bank Perpetual Bond is “CBLPBOND”, while scrip code is 26011.

A perpetual bond is a hybrid security with no maturity date that has characteristics of both debt and equity. These types of bonds are not redeemable; instead provide a never-ending stream of interest payments.

Bangladesh Securities and Exchange Commission on 23rd May 2021 and 23rd March 2022 amendment gave directives to list the bond in the main board of exchange(s). In accordance with the directives, the bank applied and received subsequent approvals from Dhaka Stock Exchange Limited (DSE) regarding listing of the bond on 18th January, 2022.

The bond is unsecured, contingent-convertible, fully paid-up, non-cumulative and BASEL-III compliant. The coupon range of the bond is from 6.00% to 10.00% and the coupon margin is 2.00%.

The bank’s consolidated earnings per share (EPS) stood at BDT 5.15 as on 31st December 2021 as against BDT 4.09 as on 31st December 2020. The bank’s paid-up capital was BDT 10.67 billion and authorised capital is BDT 15.00 billion at the end of 2021.

On the occasion, an inaugural ceremony was held at Dhaka Stock Exchange Tower. Tarique Amin Bhuiyan, Managing Director of Dhaka Stock Exchange, Sheikh Mohammad Maroof, Acting Managing Director, Mohammad Mahbubur Rahman, Additional Managing Director & CFO of City Bank  and Ershad Hossain, Managing Director & CEO of City Bank Capital Resources Limited were present at the event.