Things you needs to know before investing in "10.25% Sunrise Debenture 2083"; Issue open till Kartik 24, 2076

Sun, Oct 27, 2019 7:23 AM on Bonds & Debentures, Company Analysis, Exclusive, Stock Market, Latest,

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Company profile

Sunrise Bank Limited (SRBL) is “A” Class Licensed Institutions from Nepal Rastra Bank (NRB). It was incorporated on October 12, 2007, as the 23rd Commercial Bank of Nepal. The bank is promoted by reputed entrepreneurs who are industrialists, businessmen, engineers, and prominent persons of Nepal. As on July 16, 2019, 51.10% of the total shares of SBL were held by the promoter whereas the remaining 48.90% is held by the general public. The bank had acquired two “C” Class Financial Institutions (Finance Company), Narayani. SRBL currently has a network of 123 branches.

The subsidiaries of SRBL are:

Sunrise Capital

Objective

About the issue

Sunrise Bank Limited (SRBL) has published an offer letter to issue "10.25% Sunrise Debenture 2083" to the general public from Kartik 20 to Kartik 24, 2076. In case of under-subscription, the issue will be extended till Mangsir 19, 2076.

The Bank is issuing a total of 30 lakh units of debenture, out of which, 12 lakh units are for the general public and 18 lakh units are for private placement. Similarly, out of the units offered to general public, 60,000 units has been reserved for Mutual Funds. The debenture is being issued at Rs 1000 per unit and will provide 10.25% interest for a period of 7 years.

Siddhartha Capital Limited is the issue manager.

Interested individuals can apply for a minimum of 25 units or maximum of 3 lakh units.

SRBL had also issued "10 Sunrise debenture 2080" recently which has been already listed in NEPSE. This debenture is worth Rs 1 arba, making the cumulative debenture of Sunrise Bank worth Rs 4 arba.

Capital structure

Shareholding structure

Primary shareholders

Board of Directors

Management Team

*There are 1,353 employees in total.

Rating

CRNL has assigned "CARE-NP A-‟ rating to the proposed Subordinate Debenture “10.25% Sunrise Debenture 2083” issue of Sunrise Bank Limited (SBL). CRNL has also reaffirmed rating of "CARE-NP A-‟ assigned to Subordinate Debenture “10% Sunrise Debenture 2080” and Issuer Rating of "CARE-NP A- (Is)‟ assigned to Sunrise Bank Limited. Instruments with this rating are considered to offer adequate degree of safety regarding timely servicing of financial obligations, in Nepal. Such instrument carries low credit risk.

Key Rating Strength