Kathmandu. Siddhartha Bank Limited is going to open the issue and sale of debentures from July 15. The bank is issuing ‘SBL Debenture 2091’ at an interest rate of 7.25 percent per annum for a period of 10 years.
The bank is issuing 2.5 million units of debentures worth Rs 2.5 billion at a face value of Rs 1,000 each. Out of this, 60 percent i.e. 1.5 million units of debentures worth Rs 1.5 billion will be distributed individually while the remaining 40 percent i.e. 1 million units worth Rs 1 billion will be distributed to the general public.
5% i.e. 50,000 units of debentures have been set aside for mutual funds. Investors will have to apply for a minimum of 25 units of shares and maximum of all units. According to the bank, the issue will be closed at the earliest on July 15 and the issue will be held on July 15.
NMB Capital Limited is the issue manager of the bank.
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