NMB Bank started issuing 3 million units of debenture worth Rs 3 billion having a face value of Rs 1000 per debenture from March 14. The debenture that will mature in 10 years will yield 10 percent interest paid semi-annually.
According to Siddhartha Capital, issue manager of the bank, a total of 437 applicants have applied for 46,918 units of debenture worth Rs 46.9 million till April 7. The issue is still undersubscribed by 1,156,082 units.
Out of the total offered units, the bank is issuing 40 percent i.e. 1.2 million units to general public whereas the remaining 1.8 million will be funded by private placement. Moreover, the bank has allocated 5 percent i.e. 60,000 units of debenture to mutual funds.
The interested investors can apply for the debenture from all ASBA approved BFIs.
ICRA Nepal has assigned LA- grade to the issuance indicating low credit risk. Previously, the bank issued debenture worth Rs 500 million.
Similarly, Sunrise Bank has extended the deadline of 10% Sunrise Debenture 2080 till May 12, however, if the issue get subscribed before the deadline, the bank can close the issue in anytime.
As per the issue manager, Prabhu Capital, merely 31,700 units of debentures worth Rs 31.7 million have been subscribed by April 7. The issue is undersubscribed by 368,300 units.
Sunrise Bank started issuing '10 percent Sunrise Debenture 2080' from April 3. The company is issuing 1 million units of debenture worth Rs 1 billion at a face value of Rs 1000 per debenture.
The debenture with five years of maturity period will yield 10 percent annual interest rate payable semi-annually.
Out of the total issue, the bank is issuing 40 percent i.e. 400,000 units of debenture worth Rs 400 million to the general public. The remaining 60 percent debenture will be financed privately.
The interested investors can apply for the debenture from all C-ASBA approved BFIs and through meroshare software.
The interested investors can apply for a minimum of 25 units to maximum all shares.
