Citizens Bank Closing Issue of ‘10% Citizens Bank Debenture 2090’ Today

October 9, 2023 | Investopaper

Citizens Bank International Limited (CZBIL) is currently issuing a debenture named ‘10% Citizens Bank Debenture 2090’. The bank is selling the debenture from Ashwin 17, 2080 BS.

The public issue will close on Ashwin 22, 2080 BS. If fully subscribed, the debenture offering was set to close on Ashwin 21, 2080 BS. However, due to under-subscription until that period, the deadline for application was extended.

Interested investors can apply for a minimum of 25 units and a maximum of full units.

For this purpose, Securities Board Of Nepal (SEBON) granted the permission to the bank on Bhadra 29, 2080 BS. The bank had submitted the application to the board on Ashad 8, 2080 BS. Only after the approval from the regulatory body SEBON, the company can sell the securities to the public.

Citizens Bank is planning to sell 30 lakh units debenture. The par value of each unit of debenture is Rs 1,000. Hence, the total debenture issue is worth Rs 3 Arba.

Out of the total issue, the bank will sell 18 lakh units of debenture worth Rs. 1.8 Arba through private placement. Likewise, the bank will issue 12 lakh units debentures to the general public. Thus, the total public issue amounts to Rs. 1.2 Arba.

The debenture will provide 10 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 offering. An agreement has been reached between the company and Himalayan Capital on this regard. The agreement was signed by Ganesh Raj Pokharel, Chief Executive Officer Of Citizens Bank International Limited and Parmeshwor Pant, CEO of Himalayan Capital Limited.

Suggested Readings:

List Of Upcoming Debentures In Nepal


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