Last day to apply for the ‘Kumari Bank Debenture 2086’.
January 28, 2020 | Investopaper
Today is the last day to apply for the debenture of Kumari Bank. Interested applicants can apply for the debenture issue till banking hours today.
Kumari Bank issued the debenture worth Rs. 3 Arba from Poush 14, 2076. The debenture issue was extended to Magh 14, 2076 after being unsubscribed. The debenture is named ‘Kumari Bank Debenture 2086’.
Issue Size
The bank floated 30 lakh units of the debenture. Out of the total issue, the bank will sell 18 lakh units worth Rs. 1.8 Arba through private placement. Likewise, the remaining amount is public issue size. Hence, the general public can apply for 12 lakh units which amount to Rs. 1.20 Arba.
Interest Rate and Maturity Period
The debenture will provide a 10.25 percent interest rate to the holders. Similarly, the maturity period is of 10 years. Hence, the debenture will mature in 2086.
Issue Manager
Nepal SBI Merchant Banking Limited is appointed as the issue manager for the Kumari Bank debenture 2086.
Approval from Sebon
The debenture issue has received approval from the Securities Board of Nepal (SEBON) on Mangsir 29, 2076.
Ratings
ICRA Nepal Limited has provided “[ICRANP] LBBB+” ratings to the debenture issue. This indicates a moderate credit risk associated with the bank issue.
