Everest Bank to issue Rs 3 billion debenture, appoints Laxmi Sunrise Capital as issue manager

Kathmandu: Everest Bank is set to raise Rs 3 billion through the issuance of debentures and has appointed Laxmi Sunrise Capital as the issue and sales manager for the offering. The bank plans to float “Everest Bank Limited Debenture 2088,” with a total of 3 million units to be issued at a face value of Rs 1,000 each.

According to the bank, 40 percent of the issuance, equivalent to Rs 1.2 billion or 1.2 million units, will be offered to the general public, while the remaining 60 percent, worth Rs 1.8 billion or 1.8 million units, will be privately placed with institutional investors.

The debenture will have a maturity period of six years and carry an annual interest rate of 6.25 percent, payable semi-annually. The agreement for the issuance was signed by Everest Bank CEO Sudesh Khaling and Laxmi Sunrise Capital CEO Vijay Lal Shrestha on behalf of their respective organizations.