Bank Of Kathmandu To Float Debenture Worth Rs 1.60 Arba

November 20, 2020 | Investopaper

Bank Of Kathmandu Limited (BOKL) is going to issue debenture named “8.5%, 10 years, BOK Debenture 2086”. Securities Board of Nepal (SEBON) has provided the approval on Karthik 24, 2077. The bank has submitted the application to SEBON on Karthik 14, 2077 for the issuance of debenture.

After the approval from SEBON, Bank Of Kathmandu will now float 16 lakh units debenture. The par value of each unit of debenture is Rs 1,000. Hence, the total debenture issue is worth Rs 1.60 Arba. Out of the total issue, the bank will sell 9.6 lakh units debentures worth Rs. 96 crores through private placement. Likewise, the general public can apply for the remaining 6.4 lakh units that amount to Rs. 64 crores. Out of the public issue size of 6.4 lakh units, mutual funds will receive 5 percent or 32,000 units.

The debenture will provide a 8.5 percent interest per annum payable semi-annually. The maturity period is of 10 years. Hence, the bank will refund the principal amount in 2086 BS.

Nabil Investment Banking Limited is the issue manager for the BOK Debenture 2086.

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