Star Enterprise Report
Fri Aug 4, 2023 12:00 AM Final replace on: Fri Aug 4, 2023 01:52 AM
MetLife Bangladesh has invested Tk 257.5 crore in a sustainability bond issued by Runner Cars Ltd.
A sustainability bond is a fixed-income instrument designed to assist particular climate-related or environmental initiatives.
Runner plans to lift Tk 267 crore from the bond to facilitate entry to credit score for purchasers wishing to buy three-wheelers with low emissions, together with electric-powered ones.
The funds will even be used to assemble a 4MW rooftop photo voltaic plant for a producing facility of Runner.
This initiative is predicted to allow round 7,000 individuals change into homeowners of three-wheelers, resulting in income-generating prospects by taxi companies and for automobile upkeep firms.
The Runner bond is assured by GurantCo, which is part of Non-public Infrastructure Growth Group. Inexperienced Delta Capital Restricted is the arranger and advisor and DBH the trustee.
This funding will contribute to the expansion of Bangladesh’s bond market, MetLife stated in a press launch yesterday.
With the funding, MetLife’s general investments within the nation’s monetary sectors will attain over Tk 17,000 crore, it stated.