Written by The Banking Post
Runner Automobiles’ Sustainability Bond debuts trading today (Wednesday) on the Alternative Trading Board (ATB) of the Dhaka Stock Exchange under the ‘P’ category, more than two years after the company raised funds through the country’s first green bond.
Runner raised Tk 2.65 billion in July 2023 by issuing the seven-year bond to finance eco-friendly three-wheelers and build a rooftop solar plant for its manufacturing unit. With 25 months already elapsed, the remaining tenure now stands at 59 months.
The bond, trading under the code “RAPLCSBOND,” has a face value and minimum subscription of Tk 1 million, with an annual coupon rate of 8.76 per cent payable semi-annually. For the first two trading days, circuit breakers will be set at 4 per cent, with normal limits applying from the fourth day.
MetLife Bangladesh subscribed 96 per cent of the bond, investing Tk 2.57 billion. GreenDelta Capital acted as lead arranger, DBH Finance as trustee, while GuarantCo fully guaranteed the issuance.
The sustainability bond is designed to help customers access financing for low-emission and electric three-wheelers, alongside supporting a 4MW rooftop solar project.
Despite recent losses, Runner’s financials show improvement. The company reported a Tk 61 million loss in FY24, down from Tk 880 million the year before, and posted a Tk 8 million profit in the nine months to March this year.
Launched in January 2023, DSE’s ATB facilitates trading of bonds, sukuk, open-ended funds, and private securities at lower costs and with lighter listing requirements.
