More than 300 applicants apply for ‘10% Laxmi Bank Debenture 2086’ till now; issue closes tomorrow

Thu, Nov 7, 2019 3:14 PM on Bonds & Debentures, Latest,
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Laxmi Bank (LBL) is issuing “10% Laxmi Bank Debenture 2086” worth Rs.2 Arba with a maturity period of 10 years. The issue was open from Ashwin 23, 2076 till Ashwin 27, 2076. However, due to under subscription, the issue has been extended till Kartik 22, 2076. The issue will be closed tomorrow.

A total of 20 lakh units have been issued at a par price of Rs.1000 per unit. Out of the offered, 12 Lakh units are for the private placement while 8 Lakh units are for the general public. Similarly, 5% or 40,000 units have been reserved for Mutual Funds.

Nabil Investment has been appointed as issue manager. As per the issue manager, a total of 331 applicants from the general public have applied for 26,021 units till 3 PM today. The collection stood at Rs.2.60 Crore.

The interest individuals can apply for a minimum of 25 units or maximum of 1 lakh units.

ICRA Nepal Limited has reaffirmed a [ICRANP-IR] BBB+ Issuer Rating of Laxmi Bank Limited. This rating is considered to have a moderate degree of safety regarding timely servicing of financial obligations. Entities with this rating carry moderate credit risk.