May 18, 2022 | Investopaper
Century Commercial Bank Ltd. (CCBL) is currently issuing a debenture named “10.50%, 10 years, Century Debenture 2088”. The debenture offering is open from Baisakh 21, 2079 BS. The issue will close on Jestha 4, 2079 BS.
Century Bank is floating 22 lakh units debenture at a face value of Rs 1000. Hence, the total debenture issue amounts to Rs 2.20 Arba.
Out of the total issue, the bank is selling 13.2 lakh units debenture worth Rs. 132 crores through private placement. Likewise, the general public can apply for the remaining 8.8 lakh units that amount to Rs. 88 crores. Out of the public issue size of 8.8 lakh units, mutual funds will receive 5 percent or 44,000 units.
Interested Investors can apply for a minimum of 25 units.
The debenture will provide 10.50 percent interest per annum to the investors. The maturity period of the debenture is 10 years. Hence, the bank will refund the principal amount in 2088 BS.
Securities Board Of Nepal (SEBON), the regulatory body, granted the permission for debenture issuance on Chaitra 29, 2078 BS.
The bank has appointed Global IME Capital Limited as the issue and sales manager for the debenture.