Shangrila Development Bank To Close Debenture Issue From Ashad 20
July 4, 2021 | Investopaper
Shangrila Development Bank Limited (SADBL) is currently issuing a debenture named ’10 years, 9%, Shangrila Development Bank Debenture 2087′. The debenture offering is open from Ashad 6, 2078 BS. If fully subscribed, the issue was set to close on Ashad 9, 2078 BS. However, due to under-subscription, the deadline for application has now extended to Ashad 20, 2078 BS.
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The development bank is floating 750,000 units debenture at a par value of Rs 1,000. Hence, the total issue amounts to Rs 75 crores. Out of the total issue size, SADBL will sell 4.5 lakh units worth Rs 45 crores through private placement. Likewise, the general public can apply for the remaining 3 lakh units that amount to Rs 30 crores. The mutual funds will receive 5 percent (out of the general public’s quota) or 15,000 shares.
The debenture will provide 9 percent interest rate payable semi-annually. It has a maturity period of 10 years. Hence, the bank will refund the principal amount in 2087 BS.
One can apply for a minimum of 25 units and a maximum of 3,00,000 units.
Securities Board Of Nepal (SEBON) has provided the final approval on Baisakh 6, 2078 BS for the debenture issuance.
NIBL Ace Capital Limited is the issue manager for the debenture.
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