Everest Bank to float 6 lakh units of 6 year debenture at 8% interest rate

ShareSansar, July 1:

Everest Bank Limited (EBL)is about to float 6 lakhs units of debenture yielding 8% percent interest rate with maturity of 6 year at a face value of Rs 1000 per unit from Ashad 24.

Out of 6,00,000 units; 30,000 units have been set aside for the mutual funds and 4,80,000 units will be sold on private placement basis and remaining 90,000 units is set aside for general public.

Interested investors will have to apply for a minimum of 25 units.

The issue will close on Ashad 28 and the maximum closing date has been set for Shrawan 7.

The interested investors can apply for the debenture at the head office and all the branches of Everest Bank Limited, besides the office of its issue manager Nabil Investment Banking Limited at Naxal, Kathmandu.

Everest Bank had a net profit or Rs 1.19 arba in the third quarter of current fiscal year. Its Earning per Share stands at Rs 83.04 and net worth per share at Rs 302.97.

ICRA Nepal has given [ICRANP] LA- rating to the issue.