Nepal SBI Bank Closing Issue Of “Nepal SBI Bank Debenture 2089” From Today
August 16, 2023 | Investopaper
Nepal SBI Bank Limited (SBI) is currently issuing a debenture named “10 years, 9%, Nepal SBI Bank Debenture 2089” from Shrawan 18, 2080 BS.
The public issue will close on Shrawan 31, 2080 BS. Earlier, if fully subscribed, the debenture offering was set to close on Shrawan 22, 2080 BS. However, due to under-subscription until that period, the deadline for application was extended.
The bank is selling 20 lakh units debenture. The par value of each unit of debenture is Rs 1,000. Hence, the total debenture issue is worth Rs 2 Arba.
Out of the total issue, the bank is issuing 12 lakh units debenture worth Rs. 1.2 Arba through private placement. Likewise, it is selling 8 lakh units debentures to the general public. Thus, the total public issue amounts to Rs. 80 crores. Mutual fund schemes are reserved 40,000 units out of the 8 lakh units that is being offered to the public.
The debenture will provide 9 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 2089 BS.
Interested investors can apply for a minimum of 25 units and a maximum of 8,00,000 units.
Securities Board Of Nepal (SEBON) had granted the approval to the bank on Ashad 27, 2080 BS. The bank had submitted the application to the board on Mangsir 12, 2079 BS seeking permission for debenture issuance. Only after the permission from the regulatory body, the bank can sell the debenture to the general public.
The bank has appointed NMB Capital Limited as the issue and sales manager.
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