‘10.25% Sunrise Debenture 2083’ to open for Sale from today

November 6, 2019 | Investopaper

Sunrise Bank will issue the debenture named “10.25 % Sunrise Debenture 2083” to the public from today (Karthik 20, 2076). At the earliest, the debenture issue will close on Karthik 24. However, if the issue remains undersubscribed until that period, it will extend to Mangsir 19, 2076.

The A-class commercial bank is trying to sell 30 lakh units of debenture which amounts to Rs. 3 Arba. Out of the total issue, 18 lakh units worth Rs. 1.80 Arba will be sold through private placement. The bank intends to sell the remaining 12 lakh units to the general public. The public issue size includes the 5 percent i.e. 60,000 units reserved for the mutual funds.

The par value of debenture is Rs. 1,000 per unit. Sunrise Bank will provide a 10.25 percent interest rate on debenture which is payable semi-annually. Likewise, the debenture will mature in 2083 i.e. the maturity period is of 7 years.

Care Ratings Nepal has provided an A- rating to the debenture. This indicates that the company is capable of paying its debt on time and the investment on debenture is low risk.

Siddhartha Capital Limited is the issue manager for the debenture of Sunrise Bank.

Previously, Sunrise bank had issued “10% Sunrise Debenture 2080” in Chaitra 20, 2075.


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