Sunrise Bank issued '10 percent Sunrise Debenture 2080' worth Rs 1 billion from April 3-8 and allocated on May 31. The bank issued one million units of debenture at a face value of Rs 1000 per debenture.
According to the bank, the debenture with five years of maturity period yields 10 percent annual interest rate payable semi-annually.
Out of the total issue, the bank issued 40 percent i.e. 400,000 units of debenture worth Rs 400 million to the general public while the remaining 60 percent debenture was privately financed.
After the listing, debenture holders can borrow fund keeping the units as collateral or trade them in the secondary market.
