Jyoti Bikas Bank has submitted an application to SEBON requesting to issue a new bond.
The bond titled "9%, 10 years, Jyoti Bikas Bank Bond 2087" has a coupon rate of 9%. The coupon rate is simply the annual payment made by the issuer of the bond to the investors.
A total of 15 lakh units are registered. 6 lakh units will be opened for the public issue and 9 lakh units will be subscribed via private placement. Rs. 1000 is the par value. Meanwhile, NIBL Ace Capital has been appointed the issue manager.
The bond will mature in the year 2087 B.S.