Shine Resunga Development Bank to Float 10 Lakh Units of Debenture
November 13, 2024 | Investopaper
Shine Resunga Development Bank Ltd. (SHINE) is going to issue a debenture named “8% Shine Resunga Debenture 2091”.
For this purpose, SHINE has submitted the application to the Securities Board of Nepal (SEBON) on Ashwin 14, 2081 BS. Only after the approval from the regulatory body SEBON, the bank can sell the debenture to the public.
The development bank is planning 10 lakh units of debenture that amounts to Rs. 1 Arba. Out of the total issue, the bank will sell 6 lakh units debenture worth Rs. 60 crores through private placement. Likewise, the general public can apply for the remaining 4 lakh units that amount to Rs. 40 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.
NIMB Ace Capital Limited is the issue and sales manager for the debenture issuance. An agreement has been inked between the bank and NIMB Ace Capital on this regard.
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