Citizens Bank International to Issue 30 Lakh Units of “8.5% Citizens Bank Debenture 2090”
February 2, 2024 | Investopaper
Citizens Bank International Ltd. (CZBIL) is going to issue a debenture named “8.5% Citizens Bank Debenture, 2090”.
For this purpose, the bank has submitted the application to Securities Board Of Nepal (SEBON) on Magh 12, 2080 BS seeking permission for debenture issuance. Only after the permission from the regulatory body, the bank can sell the debenture to the general public.
If approved by SEBON, Citizens Bank International will float 30 lakh units debenture at a face value of Rs 1,000. Hence, the total debenture issue amounts to Rs 3 Arba.
Out of the total issue, the bank will sell 18 lakh units debenture worth Rs. 180 crores through private placement. Likewise, the general public can apply for the remaining 12 lakh units that amount to Rs. 120 crores.
The debenture will provide 8.50 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 2090 BS.
Himalayan Capital Limited is the issue and sales manager for the debenture. An agreement has already been reached between the bank and Himalayan Capital in this regard.
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