November 20, 2020 | Investopaper
Sanima Bank Limited is going to issue the debenture with a period of 10 years. The debenture is named ‘8.5%,10 years, Sanima Bank Debenture 2086’. Securities Board of Nepal (SEBON) has provided the approval for debenture issuance on Karthik 27, 2077. Sanima Bank had submitted the application to the Securities Board of Nepal (SEBON) on Poush 27, 2076.
The bank will float Rs. 4 Arba worth of debenture. The debenture will provide a 8.5 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 2086 BS.
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.
The debenture has a par value of Rs. 1000. Interested investors can purchase a minimum of 25 units.
NIC Asia Capital Limited is the issue manager for the debenture.