Jyoti Bikas Bank To Close Debenture Issue On Ashad 30

July 14, 2021 | Investopaper

Jyoti Bikas Bank Limited (JBBL) is currently issuing a debenture named ‘9%, 10 years, Jyoti Bikas Bank Bond 2087’ from Ashad 20, 2078 BS. Due to over-subscription, the issue will close on Ashad 30, 2078 BS. Interested investors can still apply until the close of banking hours.

Jyoti Bikas Bank is selling 15 lakh units debenture. The par value of each debenture is Rs 1,000. Hence, the total public issue amounts to Rs 1.50 Arba.

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Out of the total issue, the bank will sell 9 lakh units worth Rs 90 crores through private placement. Likewise, the public can apply for the remaining 6 lakh units that amount to Rs 60 crores. The mutual fund schemes will receive 30,000 units (5% of the general public’s quota).

Interested investors can apply for a minimum of 25 units and a maximum of 30,000 units.

NIBL Ace Capital is the issue and sales manager for the debenture.

The debenture will provide a 9 percent interest rate payable semi-annually. It has a maturity period of 10 years. Hence, the bank will refund the principal amount in 2087 BS.

The development bank had submitted the application on Falgun 11, 2077 BS to the Securities Board of Nepal (SEBON) for the issuance of the debenture.

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