Prabhu Bank To Close Debenture Issue On Jestha 26

June 9, 2021 | Investopaper

Prabhu Bank Limited (PRVU) is currently issuing the debenture named ’10 years, 8.5%, Prabhu Bank Debenture 2087′. The debenture issue was open from Jestha 11, 2078 BS. The debenture will close on Jestha 26, 2078 BS. Interested investors can still apply until the close of banking hours.

Prabhu Bank is selling 40 lakh units debenture. The par value of the debenture is Rs 1000. Hence, the total issue amounts to Rs 4 Arba. Out of the total issue, the bank will sell 24 lakh units worth Rs. 2.40 Arba through private placement. Likewise, the general public can apply for the remaining 16 lakh units worth Rs 1.60 Arba.

The debenture will provide an 8.50 percent interest rate per annum payable semi-annually. The maturity period of the debenture is of 10 years. Hence, the bank will refund the principal amount in 2087 BS.

Interested investors can purchase a minimum of 25 units and maximum of 10 lakh units.

Securities Board Of Nepal (SEBON) has provided the final approval on Baisakh 16, 2078 BS for the debenture issuance. The bank had submitted the application to SEBON  on Magh 25, 2077 BS.

Mega Capital Markets Limited is the issue manager for the debenture.

Suggested Readings:

List Of Upcoming Debentures In Nepal


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