Nepal SBI Bank closing debenture issue worth Rs. 2.50 Arba today
March 11, 2020 | Investopaper
Nepal SBI Bank is closing the debenture issue from today i.e Falgun 28, 2076. The bank had opened the sale of debenture from Magh 28, 2076. Nepal SBI is planning to collect Rs 2.50 Arba through the issue of the debenture. The debenture is named ‘10%, Nepal SBI Bank Debenture 2086’.
The ‘A’ class bank has received the final approval for the debenture issue from the Securities Board of Nepal (SEBON) on Poush 27, 2076.
The debenture has a maturity period of 10 years. Providing a 10 percent interest rate, the debenture will mature in 2086.
Out of the total Rs. 2.50 Arba, Nepal SBI Bank will sell Rs. 1.50 Arba worth of debenture through private placement. Likewise, the remaining Rs. 1 Arba worth of debenture will be floated to the general public.
Debenture can be a safe place to park your money for the long term investment. At a par value of Rs. 1000, investors should purchase a minimum of 25 units. The bank will provide interest on a semi-annual basis.
ICRA Nepal has provided “[ICRANP] LAA” ratings to the debenture. This indicates a ‘high degree of safety’ in the investment of this debenture.
Kumari Capital Limited is the issue manager.
