Everest Bank To Close Issue Of ‘Everest Bank Ltd Rinpatra 2085’ From Bhadra 1
August 17, 2022 | Investopaper
Everest Bank Ltd. (EBL) is currently issuing a debenture named “6yrs, 10.5%, Everest Bank Ltd Rinpatra 2085”. The debenture offering is open from Shrawan 18, 2079 BS. The issue will close on Bhadra 1, 2079 BS.
Everest Bank is selling 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 debenture worth Rs. 120 crores through private placement. Likewise, the general public can apply for the remaining 8 lakh units that amount to Rs. 80 crores. Out of the public issue size of 8 lakh units, mutual funds will receive 5 percent or 40,000 units.
One can apply for a minimum of 25 units and a maximum of full units.
The debenture will provide 10.50 percent interest per annum to the investors. The bank will pay the interest quarterly i.e. every three months. The maturity period of the debenture is 6 years. Hence, the bank will refund the principal amount in 2085 BS.
Securities Board Of Nepal (SEBON) granted permission to the company on Shrawan 2, 2079 BS for the debenture issuance. The bank had submitted the application to the board on Jestha 11, 2079 BS. Only after the permission from the regulatory body, the bank can sell the debenture to the general public.
Laxmi Capital Limited is the issue and sales manager for the debenture.
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