Everest Bank To Close Debenture Issue On Magh 17

January 31, 2022 | Investopaper

Everest Bank Limited (EBL) is currently issuing a debenture named “8 yrs, 8.5%, Everest Bank Debenture” from Magh 3, 2078 BS. The debenture is going to close on Magh 17, 2078 BS. Previously, the debenture issue was set to close on Magh 6, 2078 BS. However, due to the under-subscription until that period, the deadline for application was extended.

One can apply for a minimum of 25 units and a maximum of 1,00,000 units.

Securities Board Of Nepal (SEBON) had approved the issuance of debenture on Mangsir 20, 2078 BS. The company had submitted the application to the board on Shrawan 20, 2078 BS.

Everest Bank is floating 20 lakh units debenture at a face value of Rs 1000. Hence, the total debenture issue amounts to Rs 2 Arba.

Out of the total issue, the bank will sell 12 lakh units debenture worth Rs. 120 crores through private placement. Likewise, the general public can apply for the remaining 8 lakh units that amount to Rs. 80 crores. Out of the public issue size of 8 lakh units, mutual funds will receive 5 percent or 40,000 units.

The bank has appointed NIBL Ace Capital Limited as the issue and sales manager for the debenture.

Care Ratings Nepal Limited has assigned [CARE-NP AA-] rating to the debenture. This indicates adequate safety regarding the timely payment of financial obligations.

The debenture will provide 8.5 percent interest rate to the investors. It has a maturity period of 8 years and the bank will refund the principal amount on 2086 BS.


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One thought on “Everest Bank To Close Debenture Issue On Magh 17

  • May 25, 2022 at 2:47 am

    I went talk


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