“10% Laxmi Bank debenture 2086” to open from Ashwin 23, 2076; Debentures worth Rs 2 arba to be floated

Fri, Sep 27, 2019 11:43 AM on Bonds & Debentures, Latest, Stock Market,
“10% Laxmi...

Laxmi Bank (LBL) is issuing “10% Laxmi Bank debenture 2086” worth Rs 2 arba with a maturity period of 10 years. The issue will open from Ashwin 23, 2076 till Ashwin 27, 2076. However, in case of under subscription, the issue will be extended till Kartik 22, 2076.

A total of 20 lakh units will be issued at a par price of Rs 1000 per unit. Out of the offered, 12 Lakh units are for the private placement while 8 Lakh units will be issued for the general public. Similarly, 5% or 40,000 units have been reserved for Mutual Funds.

Nabil Investment has been appointed as issue manager.

The interest individuals can apply for a minimum of 25 units or maximum of 1 lakh units.

ICRA Nepal Limited has reaffirmed a [ICRANP-IR] BBB+ (Pronounced as ICRA NP IR Triple B Plus) Issuer Rating of Laxmi Bank Limited.

This rating is considered to have a moderate degree of safety regarding timely servicing of financial obligations. Entities with this rating carry moderate credit risk.