Global IME Bank appoints Laxmi Sunrise Capital as its issue and sales manager and plans to issue a five billion rupee debenture

KATHMANDU:Global IME Bank has appointed Laxmi Sunrise Capital as the sales manager for the Rs 5 billion debenture issue.

The deal was signed by the bank's CEO, Ratna Raj Bajracharya, and the CEO of Laxmi Sunrise Capital, Bijaya lal Shrestha.

The bank will issue '8 percent Global IME Bank debenture 2091-92'.

The bank said that 5 million debenture will be sold at a rate of Rs 1,000 per unit.

Of these, 40% (2 billion rupees) will be made offered to the public, with the remaining 60% (3 billion rupees) sold privately.

The 10-year debenture will yield interest at an annual rate of 8%, with repayment occurring semi-annually every 6-6 months.