Nabil Bank Closing Issue of ‘Nabil Debenture 2087’ from Today
December 19, 2023 | Investopaper
Nabil Bank Limited (NABIL) is currently issuing a debenture named ‘7 Yrs, 9% Nabil Debenture 2087’. The debenture offering is open from Mangsir 29, 2080 BS. Due to over-subscription, the public issue will close on Poush 3, 2080 BS.
The bank is selling 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 floating 18 lakh units of debenture worth Rs. 1.8 Arba through private placement. Likewise, the bank is selling 12 lakh units debentures to the general public. Thus, the total public issue amounts to Rs. 1.2 Arba.
One can apply for a minimum of 25 units and a maximum of 12,00,000 units.
The debenture will provide 9 percent interest per annum to the investors. The maturity period of the debenture is 7 years. Hence, the bank will refund the principal amount in 2087 BS.
Securities Board Of Nepal (SEBON) had given the permission to the bank on Mangsir 10, 2080 BS. The bank had submitted the application to the board on Ashad 17, 2080 BS seeking approval to issue the debenture. Only after the approval from the regulatory body SEBON, the company can sell the securities to the public.
The company has appointed Kumari Capital Limited as the issue and sales manager. An agreement has been reached between the bank and Kumari Capital on this regard.
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