Himalayan Bank Limited (HBL) is set to open the issue of its “10% Himalayan Bank Debenture 2083”. HBL is issuing 30 lakh units debenture at par value of Rs.1000 each to raise debt worth Rs.3 Arba. The debentures will offer an interest rate of 10% p.a. and will mature in a period of 7 years.
The applications for the debenture issue is open from Shrawan 2, 2076. The early closing of the issue is on Shrawan 6, 2076. If the issue is not fully subscribed till the early closing, it can be extended up to Shrawan 31, 2076.
Laxmi Capital Market Limited has been appointed as the issue manager for the debenture issue.
Out of the total units, 1,200,000 units (40% of the issue) will be offered to the general public while remaining 1,800,000 units (60% of the issue) will be privately placed. Amongst the units offered to the general public, 5% i.e. 60,000 units have been reserved for mutual funds.
Applications can be placed for minimum 25 units while there is no maximum limit for the same.
CRNL has assigned the issuer rating of “CARE-NP A (Is)” to HBL. Issuers with this rating are considered to offer adequate degree of safety regarding timely servicing of financial obligations. Such issuers carry low credit risk.
CRNL has also assigned “CARE-NP A” rating to “10% Himalayan Bank Limited Bond 2083” issue of HBL worth Rs.3 Arba. The instruments with this rating are considered to have adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk.
HBL had previously issued “8% Himalayan Bank Debenture 2077” worth Rs.60 Crore.