Sunrise Bank's "10.25% Sunrise Debenture 2083" open from Kartik 20; Debentures worth Rs 3 arba being floated
Tue, Nov 5, 2019 5:00 PM on Bonds & Debentures, Corporate, Stock Market, Latest,
Sunrise Bank Limited (SRBL), amidst a program today, announced the issuance of "10.25% Sunrise Debenture 2083" to the general public from Kartik 20 to Kartik 24, 2076. In case of under-subscription, the issue will be extended till Mangsir 19, 2076. The interested investors can apply till banking hour today.
The Bank is issuing a total of 30 lakh units of debenture, out of which, 12 lakh units are for the general public and 18 lakh units are for private placement. Similarly, out of the units offered to the general public, 60,000 units have been reserved for Mutual Funds. The debenture is being issued at Rs 1000 per unit and will provide 10.25% interest for a period of 7 years.
Siddhartha Capital Limited is the issue manager. Interested individuals can apply for a minimum of 25 units or a maximum of 3 lakh units.
SRBL had also issued "10 Sunrise debenture 2080" recently which has been already listed in NEPSE. This debenture is worth Rs 1 arba, making the cumulative debenture of Sunrise Bank worth Rs 4 arba.
CARE Nepal Limited has assigned CARE-NP Grade A- to the debenture issue of Sunrise Bank.
SRBL was established in Ashwin 24, 2064 and currently has paid-up capital of Rs 8.15 arba. The 12th AGM of the bank held recently has approved 12% bonus shares, after with the capital will reach Rs 8.96 arba. It has a network of 122 branches 38 branchless banking units, 8 extension counters and 142 ATMs.
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