Sunrise Bank to issue Rs 1 arba worth debentures in the market from today; interested public can apply for 25 to 4 lakh units to earn 10% interest annually for 5 years

Sunrise Bank Limited is issuing Rs 1 arba worth of debentures from (today) Chaitra 20, 2075 to the individual as well as institutional investors. The debentures that cost Rs 1000 a unit will have a maturity period of 5 years which will have 10% interest yield every year and the interest shall be paid semi-annually.

Out of the total Rs 1 arba worth debentures, its 40% i.e. Rs 40 crore of the debentures have been reserved for general public whereas the remaining Rs 60 crore worth of debentures will be issued for institutional investors through private placements.

The issue will close by Chaitra 25, 2075 at the earliest and could be extended till Baisakh 19, 2076. Prabhu Capital is the issue manager for the debenture program for which the general public can submit applications for minimum 25 to maximum 4 lakh units.

Sunrise Bank with its paid up value of more than Rs 8 arba currently provides services from its 103 branches, 28 branchless banking units, 3 extension counters and 118 ATM outlets.

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