Pubali Bank Ltd has informed that the trustee of the bond has approved the second half-yearly coupon rate at 10 per cent which has been traded at the Dhaka Stock Exchange (DSE) since March last year.FEThe trustee of the bond announced the coupon rate for the six months period through March 23 this year. The record date for entitlement of coupon of the bond is March 9.The trustee of the bond also paid the first half-yearly coupon rate 9.58 per cent for the period from March-September 2022.A coupon is the interest payment received by a bondholder from the date of issuance until the date of maturity of the bond.A perpetual bond is a hybrid security with no maturity date and has both debt and equity characteristics. These types of bonds are not redeemable. Instead, they provide a never-ending stream of interest payments.Pubali Bank Perpetual Bond, that made its debut trading with a face value of Tk 5000 per unit, closed at Tk 4949.50 per unit on Monday.Pubali Bank, a publicly listed private commercial bank, raised Tk 5 billion through issuing perpetual bonds last year as part of the additional Tier-I (AT-1) capital to support the bank’s Basel III compliance in line with Bangladesh Bank guidelines on risk-based capital adequacy.Of the total amount, Pubali Bank raised Tk 4.50 billion (90 per cent) through private placement and Tk 500 million (10 per cent) through public offer, as per the regulatory directive.According to the BSEC directive issued in May 2021, if an issuer intends to raise debt capital through issuance of perpetual bond, it shall make a public offer for at least 10 per cent of its intended offer.The stock market regulator’s directive also includes that perpetual bonds which will be issued by the banks must be listed on the bourses through the direct listing method.Previously, the perpetual bonds were issued only through private placement and they were not tradable at the stock market.