Yet another opportunity for risk averse investors; Siddhartha Bank opening ‘10.25% Siddhartha Bank Debentures 2083’ from today

Siddhartha Bank Limited (SBL) is issuing the ‘10.25% Siddhartha Bank Limited Debentures 2083’ to the general public from today (Bhadra 5, 2076).

The early closing date of the issue is on Bhadra 9, 2076. If it is not fully subscribed till the early closing, it can be extended up to Ashwin 5, 2076.

Siddhartha Bank Limited (SBL) is looking to raise a debt worth Rs 2.50 arba through issue of 2.50 Million units of debentures at par value of Rs.1000 each. Out of the total issue 1,000,000 units (40% of the issue) are for the general public while remaining 1,500,000 units (60% of the issue) will be sold to the institutions through private placement.

The debentures will be providing 10.25% interest p.a. These debentures will mature after a period of 7 years. Interested applicants can apply for minimum 25 units and maximum 10 Lakh units.

NMB Capital Limited has been appointed as the issue manager for the debenture issue.

ICRA Nepal Limited has assigned [ICRANP] LA- Rating to the Rs.2.50 Arba Subordinated Debenture Programme (10.25% SBL Debenture 2083) of Siddhartha Bank Limited. Instruments with this rating are considered to have adequate degree of safety regarding timely servicing of financial obligation. Such instruments carry low credit risk.