Banking News – Laxmi Sunrise Bank Limited will open the public issuance of its 10-year debenture, “7% Laxmi Sunrise Debenture 2092,” from July 29 (Shrawan 14), offering investors an annual interest rate of 7%.

The bank plans to issue 3 million debentures with a face value of Rs. 1,000 each, raising a total of Rs. 3 billion.

Of the total issue, 1.8 million debentures, equivalent to Rs. 1.8 billion (60%), will be allotted through private placement. The remaining 1.2 million debentures, worth Rs. 1.2 billion (40%), will be offered to the general public.

Out of the public offering, 60,000 debentures, representing 5% of the public issue, have been reserved for mutual funds.

Investors can apply for a minimum of 25 debentures and up to the entire number of units available.

The issue is scheduled to close on August 3 (Shrawan 19) if fully subscribed, with the latest closing date set for August 12 (Shrawan 28).

Machhapuchchhre Capital Limited has been appointed as the issue and sales manager for the debenture offering.

Eligible investors may submit applications through C-ASBA participating banks and financial institutions and their designated branches, or online via the Mero Share platform developed by CDS and Clearing Limited under the C-ASBA system.