Everest Bank appointed Laxmi Sunrise Capital to manage issue and sale of debentures worth 3 billion rupees

KATHMANDU:Everest Bank has appointed Laxmi Sunrise Capital to manage the issuance and sale of debentures worth  3 billion rupees.

The sales manager appointment agreement was signed by the bank's CEO, Sudesh Khaling, and Laxmi Sunrise Capital's CEO, Bijayalal Shrestha.

The bank is set to issue the 'Everest Bank Limited Debentures 2091'. The bank has announced that 3 million debentures will be sold at a rate of Rs 1,000 per share.

Out of this, 40%, or 1.2 million units, equivalent to 1.20 billion, will be distributed to the general public. According to the bank, the remaining 60% of the 1.8 million units, costing 1.80 billion, would be sold separately.

The 10-year debentures will pay interest at a semi-annual rate of 7.5% for 6-6 months.