Beximco Green Sukuk al Istisna’a will give 5.8% or Tk 174 crore back to its sukuk holders for the first six months of the first year (December 23, 2021 to June 22, 2022).
Administrator Investment Corporation of Bangladesh made the decision during a meeting of the administration committee on June 2.
The administrator has set June 22 as the registration date to find eligible sukuk holders for the right of return.
The yield of 5.8% would be payable on the face value of Tk 100 sukuk each.
Earlier on July 8, 2021, the BSEC gave approval to BEXIMCO to issue Tk 3,000 crore of green Shariah compliant sukuk and the sukuk debuted on January 13 this year.
Beximco Green Sukuk al Istisna’a is issued by Beximco Green-Sukuk Trust as a Shariah-compliant asset-backed security and the subscription proceeds will be used for the solar projects of Teesta Solar Ltd and Korotoa Solar Ltd.
The validity period of the Green Sukuk is five years or 60 months from the date of issue.
The nominal value of each Sukuk is 100 Tk and the minimum subscription is 5,000 Tk or 50 green Sukuk.
The rate of return on Sukuk is 9% plus margin. The margin will be 10% of the difference between the base rate (9%) and the annual dividend rate declared by BEXIMCO Limited.
Profit from Beximco’s Sukuk will be paid on a semi-annual basis.