Sunrise Bank To Issue 20 Lakh Units Of ‘Sunrise Debenture 2089’
August 25, 2022 | Investopaper
Sunrise Bank Ltd. (SRBL) is going to issue a debenture named “10 yrs, 10.5%, Sunrise Debenture 2089”.
For this purpose, the bank has submitted the application to Securities Board Of Nepal (SEBON) on Bhadra 2, 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.
If approved by SEBON, Sunrise Bank will float 20 lakh units debenture at a face value of Rs 1,000. Hence, the total debenture issue amounts to Rs 2 Arba.
Out of the total issue, the bank will sell 12 lakh units debenture worth Rs. 120 crores through private placement. Likewise, the general public can apply for the remaining 8 lakh units that amount to Rs. 80 crores.
The debenture will provide 10.50 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.
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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