Deadline Extended for "8.5% Everest Bank Limited Debenture, 2086"

Thu, Jan 20, 2022 10:42 AM on Latest, Bonds & Debentures,

Everest Bank Limited has extended the public issue of the "8.5% Everest Bank Limited Debenture, 2086." The issue had opened on 3rd Magh. The early closing date was today, i.e. on 6th Magh, 2078. Since the issue has not been subscribed fully by the early closing date, the deadline has been extended till Magh 17.

20,00,000 units are being issued at a par value of Rs.1000 per unit. 60% of the issue, i.e. 12 lakh units will be subscribed via private placement. Meanwhile, 40%, i.e. 8 lakh units have been issued to the general public. 5% of the public issue (40,000 units) have been reserved for mutual funds.

Investors can apply for a minimum of 25 units to a maximum of 1,00,000 units.

As the name suggests, the "8.5% Everest Bank Limited Debenture, 2086" will yield 8.5% annual returns to unit holders till its date of maturity, i.e. year 2086 BS.

Care Ratings Nepal has 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.

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