Everest Bank Limited has concluded allotment for the public issue of the "8.5% Everest Bank Limited Debenture, 2086" on 3rd Falgun.
The issue had opened on 3rd Magh. The early closing date was on 6th Magh, 2078. Since the issue was not subscribed fully by the early closing date, the deadline was extended.
20,00,000 units were issued at a par value of Rs.1000 per unit. 60% of the issue, i.e. 12 lakh units were to be subscribed via private placement. Meanwhile, 40%, i.e. 8 lakh units were issued to the general public. 5% of the public issue (40,000 units) was reserved for mutual funds.
Care Ratings Nepal had given the bank a rating of "CARE-NP AA-", denoting low credit risk and adequate safety regarding timely servicing of financial obligations. The rating given on July 11, 2021, is valid till June 05, 2022.
As per the issue manager NIBL Ace Capital, only 8,56,783 units of the total issue have been allotted to applicants.
As the name suggests, the "8.5% Everest Bank Limited Debenture, 2086" will yield 8.5% annual returns to unitholders till its date of maturity, i.e. year 2086 BS.