Prabhu Bank is planning to issue a debenture named “10% Prabhu Bank Debenture 2084” worth Rs. 2 Arba. For this purpose, the bank has submitted an application to the Securities Board of Nepal (SEBON) on Magh 22, 2076.
If approved by SEBON, Prabhu Bank will float 20 lakh units debenture. Out of the total issue, the bank will sell 12 lakh units debenture worth Rs. 1.20 Arba through private placement. Likewise, the general public can apply for the remaining 8 lakh units that amount to Rs. 80 crores.
The debenture will provide a 10 percent interest per annum payable semi-annually. The maturity period is of 8 years. Hence, the bank will refund the principal amount in 2084.
Nabil Investment Banking Limited is the issue manager for the Prabhu Bank Debenture 2084.