Kathmandu. The Securities Board of Nepal (SEBI) has allowed two banks to issue debentures worth Rs 4 billion.
The Securities Board of Nepal (SEBI) has allowed Nepal SBI Bank and Shine Resunga Development Bank to bring debentures. Nepal SBI Bank and Shine Resunga Development Bank have been allowed to bring debentures worth Rs 3 billion and Rs 1 billion respectively.
With the approval of the Securities Board, Nepal SBI Bank will now issue ‘Nepal SBI Bank Debenture’. Accordingly, the bank will sell a total of 3 million units at a face value of Rs 1,000.
Out of the total units, the bank will sell 1.8 million units individually and the remaining 1.2 million units will be issued to the general public.
Nepal SBI Bank’s debenture is of 10 years duration. Investors will get 7 percent interest per annum. Nabil Investment Banking is the bond sales manager.
Similarly, Shine Resunga Development Bank will issue ‘Shine Resunga Debenture’. Accordingly, the bank will sell a total of one million units at a face value of Rs 1,000.
Out of the total units, the bank will sell 600,000 units individually and the remaining 400,000 units to the general public.
Shine Resunga Development Bank’s debenture is also of 10 years duration. Investors will get 8 percent interest per annum. NIMI Ace Capital is the issue manager.
