Kathmandu. Laxmi Sunrise Bank and ICFC Finance have started the process to issue debentures. Both financial institutions have filed applications with the Securities Board of Nepal (SEBON) to bring the bonds.
Laxmi Sunrise Bank has sought permission to issue Laxmi Sunrise Debenture-2092 worth Rs 3 billion and ICFC Finance Debenture-2089 worth Rs 500 million.
Laxmi Sunrise Bank will issue a total of 30 lakh units of debentures at a face value of Rs 1,000. The debenture is for a period of 10 years. The investors will get 7 percent interest annually. Machhapuchchhre Capital Limited has been appointed as the issue manager for the issue.
After the approval of the Securities Board of Nepal (SEBON), ICFC will issue a total of 5 lakh units of debentures of face value of Rs 1,000. The debenture is for a period of 7 years. Investors will get 8 percent interest annually. Kumari Capital has been appointed as the issue manager for the issue.
