Muktinath Bikas Bank Limited (MNBBL) intends to issue a debenture from Shrawan 7, 2078 BS titled ‘7 years, 8.75 percent, Muktinath Bikas Bank Debenture 2084/85′. If fully subscribed, the debenture offering will close on Shrawan 11, 2078 BS. However, if it remains under-subscribed until that time, the application deadline will be extended to Shrawan 21, 2078 BS.
On Ashad 8, 2078 BS, the Securities Board of Nepal (SEBON) granted final approval for the issuance of debentures.
The bank plans to sell 12.50 lakh units of debenture at a par value of Rs 1000, raising a total of Rs 1.25 Arba from the sale. Through private placements, the company will sell 7.50 lakh units worth Rs 75 crores from the total issue. Mutual funds will also receive 25,000 units. As a result, the general public can apply for the remaining 4,75,000 debenture units.
A minimum of 25 units and a maximum of 500,000 units can be applied for.
Sanima Capital Limited has been appointed as the company’s sales manager for the debenture issuance. The agreement for the sale of debentures has been signed by both companies. The agreement was signed by the bank’s Chief Executive Officer Padyuman Pokharel and Sanima Capital’s Chief Executive Officer Bhishmaraj Chalise.