Published:
Jun 12, 2022 9:51:37 a.m.

| Updated:
June 12, 2022 10:04:46

In order to continue to provide sustainable financing to local businesses and better returns on customer insurance policies, MetLife Bangladesh has further diversified its investment portfolio by subscribing BDT 1.16 billion to the zero coupon bond issued by Delta Brac Housing Finance Corporation Ltd. (DBH).

MetLife is the largest institutional investor in this bond. UCB Investment Limited, a wholly-owned subsidiary of United Commercial Bank, is the principal arranger of this bond issue.

A signing ceremony was held recently attended by Ala Uddin, Deputy Managing Director and Chief Financial Officer of MetLife Bangladesh; Nasimul Baten, Managing Director and CEO of DBH; Tanzim Alamgir, Managing Director and Chief Executive Officer of UCB Investment Ltd., and other senior officials.

Through this bond issue, DBH has completed raising BDT 3.0 billion in face value to meet ongoing financing needs to extend housing finance to more people in Bangladesh.

Commenting on the bond underwriting, MetLife Bangladesh CEO Ala Ahmad said, “MetLife believes in the exceptional potential of Bangladesh and its people. Through our long-term, sustainable investments in the country, we enable local businesses to thrive and, at the same time, using our international standard portfolio management expertise to deliver on our promises to our clients.”

“DBH is rapidly facilitating housing finance in Bangladesh in the most prudent manner, and we are pleased to see the confidence of investors like MetLife to invest a significant amount in our company,” said DBH Managing Director and CEO, Nasimul Baten.

“The UCBIL team is always striving to bring innovative instruments to make our capital market more dynamic. We thank MetLife and DBH for trusting us and offering us to make a successful transaction”, said the Managing Director and CEO of UCBIL, Tanzim Alamgir.