UCB Investment raises Tk 500 crore in capital for Trust Bank through a subordinated bond

UCB Investment Limited (UCBIL) has raised Tk 500 crore in capital for Trust Bank PLC through a subordinated bond issue. UCBIL, a subsidiary of United Commercial Bank PLC (UCB), acted as the lead arranger of the transaction, according to a UCB press release.

A closing ceremony was held recently at Trust Bank's head office in Dhaka to mark the completion of the transaction. The bank's managing director (MD) and chief executive officer (CEO) Ahsan Zaman Chowdhury and UCB Investment's founding MD and CEO Tanzim Alamgir attended, along with senior officials of both institutions.

The press release said the money raised through the bond would be used to strengthen Trust Bank's Tier-2 capital base under Bangladesh Bank's revised regulatory capital framework and Basel-3. The funds would also help the bank meet its regulatory capital requirements.

UCB Investment said that over the past six years it has completed 66 investment banking transactions, raising more than Tk 21,600 crore in capital for its clients through them.

The firm provides a range of investment banking and advisory services, including debt and equity capital markets, structured finance, mergers and acquisitions, business valuation and portfolio management.