The unitholders of the Beximco Green-Sukuk Al Istisna will get a 5.8% interest for the second half of its first year against the face value of Tk100.
The Investment Corporation of Bangladesh (ICB), the trustee of the Sukuk, has approved the periodic payment from 23 June 2022 to 22 December 2022.
The trustee committee approved the interest on 1 December, which got published on the websites of stock exchanges on Sunday.
To identify the Sukuk unitholders, 22 December has been fixed as the record date.
On 4 December 2022, per Sukuk unit was traded at Tk90, a Tk2.5 or 2.86% increase from the previous trading session on the Dhaka Stock Exchange (DSE).
Earlier, in the first half, it had also paid a 5.80% interest for the unitholders.
Finally, Sukuk unitholders will get more than 13% per annum, including a dividend from Beximco Limited.
Beximco Green-Sukuk Al Istisna is the first-ever asset-backed security by Bangladesh Export Import Company Limited.
The private entity Beximco had issued Tk3,000 crore – the first-ever private sector asset-backed Islamic securities – to invest in its solar and textile businesses.
The base rate of the Sukuk was set at 9%, also investors can gradually convert their Sukuk units to Beximco shares over its five-year tenure, but they can only convert a maximum of 20% of the total in a year.
The Sukuk fund would be invested mainly in implementing solar projects of Teesta Solar Ltd and Korotoa Solar Ltd – both are subsidiaries of Beximco Ltd's subsidiary Beximco Power Company Ltd.
Its trading debut on the Dhaka Stock Exchange and the Chittagong Stock Exchange was on 13 January 2022.