SEBON approves “10% Laxmi Bank debenture 2086”; Bank to collect Rs 2 arba as debt

Securities Board of Nepal (SEBON) has approved “10% Laxmi Bank debenture 2086” of Laxmi Bank Limited (LBL).

The “10% Laxmi Bank debenture 2086” is worth Rs 2 arba and has a maturity period of 10 years. Out of the offered, 12 Lakh units are for the private placement while 8 Lakh units will be issued for the general public. The debenture will be providing 10% interest rate on the investment.

Nabil Investment has been appointed as issue manager.

ICRA Nepal Limited has reaffirmed a [ICRANP-IR] BBB+ (Pronounced as ICRA NP IR Triple B Plus) Issuer Rating of Laxmi Bank Limited.

This rating is considered to have moderate degree of safety regarding timely servicing of financial obligations. Entities with this rating carry moderate credit risk.