March 17, 2020 | Investopaper
Citizens Bank International is closing debenture issue named ‘10.25%, Citizens Bank Rinpatra 2086’ from today i.e Chaitra 4, 2076.
The bank had opened the debenture issue worth Rs. 2.50 Arba from Falgun 20, 2076. The issue was set to close on Falgun 23. However, due to under subscription, it was extended to Chaitra 4, 2076
Citizens Bank received approval from SEBON on Magh 21, 2076. The bank had applied to the Securities Board on Mangsir 1 for the issuance of the debenture.
The bank is floating 25 lakh units debenture at the par value of Rs. 1000.
The ‘A’ class commercial bank will provide a 10.25 percent interest rate on the debenture. The debenture will mature on 2086 BS. Hence, the maturity period is of 10 years.
Global IME Capital Limited is the issue manager for the debenture of Citizens Bank.
ICRA Nepal has provided “ICRANP] LBBB+” ratings to the debenture issue indicating average safety regarding the credit risk.