Prime Commercial Bank to Issue “8% Prime Debenture 2091”
August 26, 2024 | Investopaper
Prime Commercial Bank Ltd. (PCBL) is going to issue a debenture named “8% Prime Debenture 2091”.
For this purpose, PCBL has submitted the application to the Securities Board of Nepal (SEBON) on Shrawan 2, 2081 BS. Only after the approval from the regulatory body SEBON, the bank can sell the debenture to the public.
The bank is planning 3 lakh units of debenture that amounts to Rs. 3 Arba. Out of the total issue, the bank will sell 1.8 lakh units debenture worth Rs. 18 crores through private placement. Likewise, the general public can apply for the remaining 1.2 lakh units that amount to Rs. 12 crores.
The debenture will provide 8 percent interest per annum to the investors. The maturity period of the debenture is 10 years. Hence, the finance will refund the principal amount in 2091 BS.
Sanima Capital Limited is the issue and sales manager for the debenture issuance. An agreement has been inked between the bank and Sanima Capital on this regard.
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