Mahalaxmi Bikas Bank has announced the issuance of a bond worth 1 billion Nepalese Rupees, with the issuance to start from Chaitra 29. The bank plans to issue 1 million units of bonds at a rate of 1,000 Nepalese Rupees per unit, with 600,000 units set to be sold by the bank to other organizations in its first offering, while the remaining 400,000 units will be open to the general public. Furthermore, 20,000 units of the bond will be reserved for collective investment funds.
In addition to the issuance of the bond, the bank has also introduced "11% Mahalaxmi Debenture 2089" for a duration of 10 years. The bank has announced an attractive 11% annual interest rate for the debenture. The sale of the bond will be managed by NIBL Ace Capital, with a deadline for applications set until Vaishakh 4, 2080 BS.
If all the bonds are not sold by this time, the bond will remain open until Vaishakh 13, 2080 BS. The application process for the bond is open to a minimum of 25 units and a maximum of 400,000 units. Interested parties, including C-ASBA members, banks, financial institutions, and my share software, can apply online for the bond.
Mahalaxmi Bikas Bank's decision to issue bonds worth 1 billion Nepalese Rupees is expected to strengthen the bank's financial position and aid in the expansion of its operations. With the attractive interest rate on the debenture, investors are expected to take a keen interest in the bond.
Published by Mahalaxmi Bikas Bank on 2079-12-22
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