Anwar Galvanizing Ltd, a listed engineering company, decided to issue coupon-bearing bonds worth Tk 50 crore.

It took the decision at its board of directors' meeting.

Of Tk 50 crore, 90 percent will be convertible into shares and 10 percent redeemable. The tenure of the coupon-bearing bond is five years.

It will be issued after approval from the Bangladesh Securities and Exchange Commission (BSEC) and other relevant regulatory bodies.

The coupon rate of issue will range from 9 percent to 11 percent per annum, which will be given semiannually.

90 percent of the bond will be converted into ordinary shares of Anwar Galvanizing Limited.

The bonds will be offered to potential investors, including banks, NBFIs, insurance companies, corporate entities, high net worth individuals, existing shareholders and the general public.

The funds will be used for business expansion, growth of the company, and improving its profitability.