Pran Agro wins ‘FinanceAsia Awards’ for best bond deal

Pran Agro, a concern of Pran-RFL Group, recently became the first business organisation in Bangladesh to win the "FinanceAsia Awards 2023" for its bond deal.

Uzma Chowdhury, director (corporate finance) of Pran-RFL Group, received the award on behalf of Pran Agro at a hotel in Hong Kong, the company said in a press release.

Chowdhury said that Pran Agro being the first business organisation from Bangladesh to win the award was a matter of great pride.

"Pran Agro has claimed the award after competing with companies from South Asian countries like India, Pakistan and Sri Lanka. Receiving such an award is definitely an honour that will help to highlight the great progress of Pran globally," she said.

She added it would make it easier to manage the business activities of the global arena in the future.

The company won the award for its guaranteed eight-year fixed priced corporate bond. UK-based firm GuarantCo acted as the bond's guarantor. Riverstone Capital acted as the issue manager, while MetLife Bangladesh is the sole investor in the bond.

The proceeds of the bond will enable Pran Agro to finance its expansion plans.