The Securities and Exchange Commission (SEC) has given consent to United Commercial Bank (UCB) to issue floating rate subordinated bonds worth Tk 2 billion, only through private placement.

The consent of issuing bonds came under the provisions of the Securities and Exchange Commission (Issue of Capital) rules, 2001.

The approval was given on condition that the company shall comply with relevant laws and regulatory requirements, and shall also adhere to the conditions imposed

by the SEC under Section-2CC of the Securities

and Exchange Ordinance, 1969.

News: Daily Sun/Bangladesh/27-Aug-12