Standard Chartered Bank Nepal To Close “10.30% Standard Chartered Bank Nepal Ltd Rinpatra” On Falgun 8
February 20, 2023 | Investopaper
Standard Chartered Bank Nepal Ltd. (SCB) is currently issuing a debenture named “5 yrs, 10.30% Standard Chartered Bank Nepal Ltd Rinpatra”. The debenture offering is open from Magh 26, 2079 BS.
The public offering will close on Falgun 8, 2079 BS. Previously, the issue was set to close on Falgun 1, 2079 BS. However, due to under-subscription until that period, the deadline for application was extended.
Interested investors can apply for a minimum of 25 units and a maximum of 100,000 units.
Securities Board Of Nepal (SEBON) granted the approval to the company on Mangsir 29, 2079 BS. The bank had submitted the application to the board on Ashad 9, 2079 BS seeking permission for debenture issuance. Only after the permission from the regulatory body, the bank can sell the debenture to the general public.
The bank will float 24 lakh units debenture at a face value of Rs 1,000. Hence, the total debenture issue amounts to Rs 2.40 Arba.
Out of the total issue, the bank will sell 14.40 lakh units debenture worth Rs. 144 crores through private placement. Likewise, the general public can apply for the remaining 9.6 lakh units that amount to Rs. 96 crores. Out of the public’s quota, mutual fund schemes have been allotted 48,000 units.
The debenture will provide a 10.30 percent interest per annum to the investors. The maturity period of the debenture is 5 years. Hence, the bank will refund the principal amount in 2084 BS.
NIBL Ace Capital Limited is the issue and sales manager for the debenture. An agreement has already been reached between the bank and NIBL Ace Capital in this regard.
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after the allottment