StanChart Hosts Nation’s First Green Bond

Standard Chartered Bangladesh organized the very first green bond in Bangladesh by raising Tk 150 crore for Pran Agro Ltd, a company of the Pran-RFL group.

The proceeds from the bond will be used to fund the conglomerate’s green and energy-efficient initiatives, the bank said in a press release yesterday.

The financial closing ceremony was organized at the head office of the Pran-RFL Group.

Pran Agro will use the proceeds of the bond for initiatives such as wastewater recycling, climate action through waste decomposition, building sustainable communities by providing jobs for rural and poor communities and preserving life. on land thanks to organic contract farming.

Standard Chartered was the principal arranger appointed for the transaction.

“Over the past 50 years, Bangladesh has come a long way and is regarded internationally as a model of sustainable growth,” said Naser Ezaz Bijoy, CEO of Standard Chartered Bangladesh.

Bangladesh’s very first green bond is another milestone on this journey, in which Standard Chartered is proud to have played a part. ”

It’s not just the country’s first green bond; it is a bold statement of Pran’s commitment to sustainability.

“We therefore hope that this obligation will pave the way for others, stressing that finance can play an important role as a positive force,” he added.

Ahsan Khan Chowdhury, Chairman of the Pran-RFL Group, said: “We are entering a new era of green finance. The transition to a greener and more sustainable future presents new opportunities for businesses and communities.

“We see great potential in the green finance space in Bangladesh and look forward to more exciting developments in the future,” he added.

Standard Chartered is the market leader in debt capital in Bangladesh. Since 1997, the international lender’s financing solutions unit has put in place more than the equivalent of $ 7 billion in syndicated loans / debts in local and foreign currencies in the electricity, telecommunications, infrastructure sectors. , food and beverage, textiles, services and other key areas. sectors.

Uzma Chowdhury, Chief Financial Officer of the Pran-RFL Group, and Fakhrul Ahsan, Head of Corporate Finance, were present at the event alongside Enamul Haque, Head of Client Coverage for Investment Banking, Commercial and institutional at SCB, and Muhit Rahman, head of financial markets.

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