National Housing Finance PLC has received approval from the Bangladesh Securities and Exchange Commission to issue bonds worth Tk 374 crore.

The non-bank financial institution said the commission has accorded its approval for the issuance of the non-convertible, fully redeemable, unsecured National Housing 1st zero-coupon bond.

The bond will have a face value of Tk 9 lakh for each lot and will be issued for five years at a discount rate of up to 9 percent. The proceeds will be used to provide housing finance and invest in government securities through private placement, said National Housing Finance in a filing on the Dhaka Stock Exchange.