Bank Of Kathmandu To Close Debenture Issue On Mangsir 29
December 14, 2020 | Investopaper
Bank Of Kathmandu Limited (BOKL) is going to close a debenture issue named “8.5%, 10 years, BOK Debenture 2086”. The debenture issue was open from Mangsir 24, 2077. Due to over-subscription from investors, the bank has decided to close the issue today (Mangsir 29, 2077). Interest investors can still apply until the close of the banking hours.
Securities Board of Nepal (SEBON) provided the approval for debenture issuance on Karthik 24, 2077. The bank has submitted the application to SEBON on Karthik 14, 2077 for the issuance of the debenture.
Bank Of Kathmandu is floating 16 lakh units debenture at the par value of 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 an 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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