Nepal Breaking NewsNepal Stock ExchangeGarima Bikas Bank Will Issue a 1 Arba Debenture

Garima Bikas Bank Will Issue a 1 Arba Debenture

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Garima Bikas Bank Limited (GBBL) is in the process of issuing the ‘8.75 percent, 7 years, Garima 2085′ debenture. On Ashad 11, 2078 BS, the bank an application with the Securities Board of (SEBON) for this purpose.

If SEBON approves, the bank will issue a ten lakh unit debenture with a par value of Rs 1000. As a result, the total issue is Rs 1 Arba.

The bank will sell 6 lakh units Rs 60 crores through private placement out of the total issue size. Similarly, the general public can apply for the remaining 4 lakh units worth Rs 40 crores. The mutual will receive 5% of the general public’s quota, or 20,000 .

The debenture will pay an rate of 8.75 percent semi-annually. It has a 7-year maturity period. As a result, the bank will refund the principal in 2085 BS.

The debenture’s issue manager is NIBL Ace Capital Limited.

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