ARX FINANCIAL ENGINEERING Limited (« ARX ») Announced as a Joint Book-Runner for USD 250 million DESHBANDHU GROUP Ltd. (« DGL ») Sukuk
The Sukuk will finance Deshbandhu Group’s next growth phase over 6 years through group’s investments into new infrastructure and technology, repayment of the existing debt and increasing its operational capacity. Investment is expected to generate close to 5'000 new jobs, increase foreign exports and grow the group’s share in the domestic and international markets.
ARX Financial Engineering, a boutique brokerage and financial engineering specialist joins an international lead manager BlueMount Capital and Bedford Row Capital (“BRC”), a global non-bank structuring specialist as a joint bookrunner for the DGL, USD 250 million Sukuk.
Sukuk is said to offer a coupon of around 9%, paid semi-annually, and a minimum denomination of USD 100’000. Sukuk is to be open in Euroclear, Clearstream and CREST for settlement.
An application has been made for listing on Frankfurt Stock Exchange.
Danny Skutelis, CEO of ARX, commented: “Bangladesh is one of the fastest growing economies in the world, therefore DGL’s position as a leader in garments and sugar export represents a unique opportunity for investors. Moreover, DGL takes its role in society seriously by offering healthcare, housing for women, schooling for children and providing access to hospitals, an interesting proposition for ethical and ESG-focused investors.”
Dr. Scott Levy, CEO of BRC, added: “DGL provides an outstanding example of how deeply ethical businesses can grow and prosper; they are a unique blend of profitable, growing, and caring. In the demand for broader diversity of investment opportunities, this Sukuk is a blueprint for more issuances from emerging economies.”
DESHBANDHU GROUP LIMITED DGL has grown into one of the largest and most successful Conglomerates of Bangladesh with operations across several sectors and employing c. 15,000 people. The Group has established and acquired subsidiaries and controlled entities with interests in 16 businesses covering food, fibre and textiles, trading, power, and property. The foundation of the Group is based on the tagline “Friend of the Country and its People”. Being based in one of the fastest growing economies in the world, DGL takes is role in society profoundly serious. Offering healthcare, housing for women, schooling for kids and access to hospitals. All this is in line with the UN SDGs of Good Health and Well-Being, No Poverty, Decent Work and Economic Growth and Quality Education. https://www.dbg.com.bd/
ARX FINANCIAL ENGINEERING LIMITED ARX is a boutique financial engineering house set up to deliver tailored solutions and specialised brokerage services to institutional and professional clients. ARX was established and headquartered in DIFC in 2021 and is authorised and regulated by the Dubai Financial Services Authority ("DFSA"). https://arxfe.com/
BLUEMOUNT CAPITAL BlueMount Capital is the leading national mid-tier investment bank in Australia that provides corporate finance advice on cross border transactions including placements, M&A, capital structuring and IPOs. https://bluemountcapital.com
BEDFORD ROW CAPITAL BRC is an award-winning provider of global structured securities solutions which includes the issuance of investment-grade bonds, green bonds, senior secured conventional debt, short-dated notes, delta-one trackers and Shariah compliant certificates. The use of standard settlement infrastructure, combined with Bedford Row’s proprietary information systems, offers an innovative level of transparency and security for both issuers and investors. In a fast-growing market, Bedford Row is ranked inside the top 100 originators globally and one of the leading non-banks in the market. https://bedfordrowcapital.com/