Civil Bank To Float 50 Lakh Units Of “11% Civil Bank Debenture 2084”
July 5, 2022 | Investopaper
Civil Bank Ltd. (CBL) is going to issue a debenture named “11% Civil Bank Debenture 2084”.
The bank has submitted the application to Securities Board Of Nepal (SEBON) on Ashad 16, 2079 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, Civil Bank will float 50 lakh units debenture at a face value of Rs 1,000. Hence, the total debenture issue amounts to Rs 5 Arba.
Out of the total issue, the bank will sell 30 lakh units debenture worth Rs. 300 crores through private placement. Likewise, the general public can apply for the remaining 20 lakh units that amount to Rs. 200 crores.
The debenture will provide 11 percent interest per annum to the investors. The maturity period of the debenture is 5 years. Hence, the bank will refund the principal amount in 2084 BS.
Global IME Capital Limited is the issue and sales manager for the debenture. An agreement has already been reached between the bank and Global IME Capital in this regard.
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