Bank Of Kathmandu To Close Issue Of “10.5% BOK Debenture 2086” From Bhadra 7
August 23, 2022 | Investopaper
Bank Of Kathmandu Ltd. (BOKL) is currently issuing a debenture named “7 yrs, 10.5% BOK Debenture 2086”. The debenture offering is open from Bhadra 2, 2079 BS. Due to full subscription, the issue will close on Bhadra 7, 2079 BS.
The Bank is floating 11 lakh units debenture at a face value of Rs 1000. Hence, the total debenture issue amounts to Rs 1.1 Arba.
Out of the total issue, the bank is selling 6.6 lakh units debenture worth Rs. 66 crores through private placement. Likewise, the general public can apply for the remaining 4.4 lakh units that amount to Rs. 44 crores. Out of the public issue size of 4.4 lakh units, mutual funds will receive 5 percent or 22,000 units.
One can apply for a minimum of 25 units and a maximum of 1,00,000 units.
Securities Board Of Nepal (SEBON) provided approval to the bank for the debenture issuance on Shrawan 13, 2079 BS. The bank had submitted the application to the board on Baisakh 26, 2079 BS. Only after the permission from the regulatory body, the bank can sell the debenture to the general public.
The debenture will provide 10.50 percent interest per annum to the investors. The maturity period of the debenture is 7 years. Hence, the bank will refund the principal amount in 2086 BS.
The bank has appointed NIBL Ace Capital Limited as the issue and sales manager for the debenture.
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