Jyoti Bikas Bank Will Float A Debenture Of 15 Lakh Units From Ashad 20

Laxmi Bank Receives SEBON Approval To Issue 20 Lakh Units Debenture

Jyoti Bikas Bank Limited (JBBL) is issuing a debenture from Ashad 20, 2078 BS titled ‘9 percent, 10 years, Jyoti Bikas Bank Bond 2087′. If fully subscribed, the issue will close on Ashad 23, 2078 BS. However, if it remains under-subscribed until that time, the application deadline will be extended to Shrawan 3, 2078 BS.

Jyoti Bikas Bank is selling a debenture in the amount of 15 lakh units. Each debenture has a par value of Rs 1,000. As a result, the total public issue is Rs 1.50 Arba.

The bank will sell 9 lakh units worth Rs 90 crores through private placement out of the total issue. Similarly, the public can apply for the remaining 6 lakh units worth Rs 60 crores. The mutual fund schemes will receive 30,000 units (5 percent of the total quota available to the general public).

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Interested investors can apply for as few as 25 units and as many as 30,000 units.

The debenture’s issuer and sales manager is NIBL Ace Capital.

The debenture will bear a 9% interest rate that will be paid semi-annually. It has a ten-year maturity period. As a result, the bank will refund the principal in 2087 BS.

The development bank applied to the Securities Board of Nepal (SEBON) for the issuance of the debenture on Falgun 11, 2077 BS.