MK Footwear has successfully raised Tk 550 million from the SME board of the Dhaka Stock Exchange (DSE) through non-convertible fully redeemable bonds.

The Bangladesh Securities and Exchange Commission (BSEC) greenlighted the bond during a meeting held yesterday.

The bond’s duration spans eight years, offering a coupon rate comprising the Six-month Moving Average Rate of Treasury bill (SMART) plus an additional 2%.

Institutional investors and high-net-worth individuals will access the bonds through private placement, priced at Tk 1 million each. The company aims to address its working capital needs using the funds garnered.

Community Bank Investment will serve as the bond’s trustee, with Alpha Capital Management acting as the arranger.

In the preceding year, MK Footwear raised Tk 10 crore by issuing one crore shares, subsequently listing on the SME board of the DSE.