July 21, 2021 | Investopaper
Kamana Sewa Bikas Bank Ltd. (KSBBL) is planning to issue a debenture named “9% KSBBL Debenture 2088“. For this purpose, the company has submitted the application to Securities Board Of Nepal (SEBON) on Shrawan 3, 2078 BS.
Now, the bank needs permission from SEBON for debenture issuance. If approved by SEBON, Kamana Sewa Bikas Bank will float 10 lakh units debenture at a face value of Rs 1000. Hence, the total debenture issue amounts to Rs 1 Arba.
Out of the total issue, the bank will sell 6 lakh units debenture worth Rs. 60 crores through private placement. Likewise, the general public can apply for the remaining 4 lakh units that amount to Rs. 40 crores. Out of the public issue size of 4 lakh units, mutual funds will receive 5 percent or 20,000 units.
The bank has appointed NIBL Ace Capital Limited as the issue and sales manager for the debenture. The agreement was signed by Chief Executive Officer Pravin Basnet on behalf of the bank and Assistant General Manager Sachindra Dhungana on behalf of NIBL Ace Capital Limited.
At present, the bank has been providing banking services to its customers through 128 branch offices, 1 extension counter and 70 ATMs.