Global IME Bank to issue debenture from March 14

Mar 07, 2021 10:02 AM Merolagani

Global IME Bank (GBIME) is set to issue ‘8.50% Global IME Bank Debenture 2086/87’ from March 14.

The bank is issuing 3 million units of debenture worth Rs 3 billion at a face value of Rs 1,000. Out of the total offered units, the bank will privately finance 1.8 million units of debenture. Allocating 5 percent i.e. 60,000 units of the remained units to the mutual funds, the bank will issue 1,140,000 units debenture to the general public.

The interested investors can apply for a minimum of 25 and maximum of 1 million units. The issue will close early on March 17 and lately on March 29.

The debenture will mature in 10 years period and will yield 8.50 percent interest payable semiannually.

The bank has appointed Century Capital Markets as its issue manager. The investors can apply for the debenture through C-ASBA approved BFIs.

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