June 8, 2022 | Investopaper
Everest Bank Ltd. (EBL) is planning to issue a debenture named “Everest Bank Limited Energy Bond 2089”. For this purpose, the bank has appointed Laxmi Capital Markets Limited as the issue and sales manager.
An agreement has been reached between the bank and Laxmi Capital in this regard. The agreement was signed by Sudesh Khaling, Chief Executive Officer Of Everest Bank and Rajeev Sapkota, Chief Executive Officer of Laxmi Capital Markets Limited.
Now, the bank has to submit the application to the Securities Board Of Nepal (SEBON). Only after the permission from the regulatory body, the bank can sell the debenture to the general public.
If approved by SEBON, the Bank will float 20 lakh units debenture at a face value of Rs 1,000. Hence, the total debenture issue amounts to Rs 2 Arba.
Out of the total issue, the bank will sell 12 lakh units of debenture through private placement and 8 lakh units to the general public.
The maturity period of the debenture is 10 years. Hence, the bank will refund the principal amount in 2089 BS.