Sanima Bank To Close “10.25% Sanima Debenture 2089” From Ashad 24

July 8, 2022 | Investopaper

Sanima Bank Ltd. is currently issuing a debenture named “10.25% Sanima Debenture 2089”. The debenture offering is open from Ashad 10, 2079 BS. The issue will close on Ashad 24, 2079 BS. Previously, the debenture was set to close on Ashad 14, 2079 BS. However, due to under-subscription until that period, the deadline for application was extended.

The Bank is floating 50 lakh units debenture at a face value of Rs 1,000. Hence, the total debenture issue amounts to Rs 5 Arba.

Out of the total issue, the bank will sell 30 lakh units debenture worth Rs. 300 crores through private placement. Likewise, the general public can apply for the remaining 20 lakh units that amount to Rs. 200 crores. Out of the public issue size of 20 lakh units, mutual funds have not applied for the purchase of the debenture.

One can apply for the purchase of the minimum of 25 units and a maximum of 20,00,000 units.

The bank received the approval to issue the debenture from the Securities Board Of Nepal (SEBON) on Jestha 30, 2079 BS. Only after the permission from the regulatory body, the bank can sell the debenture to the general public.

The debenture will provide 10.25 percent interest per annum to the investors. The maturity period of the debenture is 10 years. Hence, the bank will refund the principal amount in 2089 BS.

RBB Merchant Banking Limited is the issue and sales manager for the debenture.


Recommended:

List Of Upcoming Debentures In Nepal

Investopaper

Investopaper is a financial website which provides news, articles, data, and reports related to business, finance and economics.

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!