Global Ime Bank To Close Debenture 2086/87 From Chaitra 16
March 29, 2021 | Investopaper
Global IME Bank Limited (GBIME) is currently issuing a debenture named “8.5%, 10 Years, Global IME Bank Debenture 2086/87“. The debenture issue was open from Chaitra 1, 2077 BS. The deadline for application is Chaitra 16, 2077 BS. Interested investors can apply until the close of banking hours.
The bank is floating 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 is selling 18 lakh units debenture worth Rs. 1.80 Arba through private placement. Likewise, the general public can apply for the remaining 12 lakh units that amount to Rs. 1.2 Arba. Out of the public issue size of 1.2 lakh units, mutual funds will receive 5 percent or 60,000 units.
Related:
How To Apply IPO/FPO/Right/Debenture Through Mero Share?
Securities Board Of Nepal (SEBON) had provided approval for the debenture issuance. The bank had submitted the application to SEBON on Bhadra 29, 2077 BS.
The debenture will provide a 8.5 percent interest per annum payable semi-annually. The maturity period is of 10 years. Hence, the bank will refund the principal amount in 2086/87.
Century Capital Markets Limited is the issue manager for the Global IME Bank Debenture.
With the fall in the interest rates at current financial market, the debenture issue is likely to attract attention. As interest on this debenture is quite higher than the interest rate on the fixed deposit, investors might consider purchasing the issue as the long term investment alternative.
Recommended:
