Global IME Bank to Float “8% Global IME Bank Debenture 2091/92”
July 19, 2024 | Investopaper
Global IME Bank Ltd. (GBIME) is going to issue a debenture named “8% Global IME Bank Debenture 2091/92”. For this purpose, the bank has appointed Laxmi Sunrise Capital Limited as the issue and sales manager. An agreement has been reached between the bank and Laxmi Sunrise Capital on this regard.
Now, the bank has to submit an application to the Securities Board of Nepal (SEBON) seeking permission to issue the debenture. If approved by SEBON, Global 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 3 lakh units debenture worth Rs. 300 crores through private placement. Likewise, the general public can apply for the remaining 2 lakh units that amount to Rs. 200 crores. Out of the general public’s quota, 5 percent has been reserved for the mutual fund schemes.
The debenture will provide 8 percent interest per annum to the investors. The maturity period of the debenture is 10 years. Hence, the bank will refund the principal amount in 2092 BS.
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