Global IME Bank selling 8.50% Global IME Debenture 2087; better opportunity for long-term investors looking to avoid market volatility

Global IME Bank has started floating 8.5% Global IME Bank Debenture 2087 to the interested investors.

Out of Rs 3 Arba worth debentures, the bank has allocated Rs 1.80 Arba worth debentures to the general investors while Rs 1.20 Arba worth debentures will be sold via private placement method, as per the media statement.

Interested investors can submit applications for a minimum of 25 unit debentures to a maximum of 10 lakh units while the issue will be closed by Chaitra 4 at the earliest and by Chaitra 16 at the latest, as per the media statement.

The bank will provide 8.5% interest semi-annually for the ten years maturity period of the debentures, as per the media statement.

The bank currently provides its services to its customers from its 270 branches in 75 districts, 242  ATM terminals, 47 extension, and revenue collection counters, 253 branchless banking units, and 3 foreign relations offices under its network.