Offer letter published for '10.25 Siddhartha Bank Limited Debenture 2083’; issue opens from Bhadra 5, 2076

Siddhartha Bank Limited (SBL) has published an offer letter inviting applications for its ‘10.25% Siddhartha Bank Limited Debentures 2083’ from the general public.

The issue will be open from 5^th Bhadra, 2076. The early closing date of the issue is on 9^th Bhadra, 2076. If it is not fully subscribed till the early closing, it can be extended up to 5^th Ashwin, 2076.

Siddhartha Bank Limited (SBL) is looking to raise a debt worth Rs.2.50 Arba through issue of 2.50 Million units of debentures at par value of Rs.1000 each. Out of the total issue 1,000,000 units (40% of the issue) are for the general public while remaining 1,500,000 units (60% of the issue) will be privately placed.

The debentures will be providing 10.25% interest p.a. These debentures will mature after a period of 7 years. Interested applicants can apply for minimum 25 units and maximum 10 Lakh units.

NMB Capital Limited has been appointed as the issue manager for the debenture issue.

ICRA Nepal Limited has assigned [ICRANP] LA- Rating to the Rs.2.50 Arba Subordinated Debenture Programme (10.25% SBL Debenture 2083) of Siddhartha Bank Limited. Instruments with this rating are considered to have adequate degree of safety regarding timely servicing of financial obligation. Such instruments carry low credit risk.