Shearman & Sterling advised IFC on the first housing bond issued in Bangladesh, provided to BRAC Bank Limited. The investment constitutes of up to $50 million equivalent in Bangladeshi Taka (BDT) in an up to 5-year, fixed rate, senior, non-convertible, unsecured, privately placed debt instruments issued by BRAC Bank to provide housing finance facility, including affordable housing finance facilities to low and middle-income households in Bangladesh. The project will support the development of housing finance and constitute important step in Bangladesh’s long-term bond markets.

The team below also included trainee Nathalie Warke (Singapore-Project Development & Finance).

The Team