Banking News – Laxmi Sunrise Bank Limited has launched the issuance of its ‘7% Laxmi Sunrise Debenture 2092’ from Shrawan 14 (July 30), offering investors a 10-year fixed-income investment with an annual interest rate of 7%.

The bank is issuing 3 million debentures with a face value of Rs. 1,000 each, amounting to a total issue size of Rs. 3 billion.

Of the total issue, 1.8 million debentures will be placed through private placement, while the remaining 1.2 million debentures 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 debentures available under the public offering.

The subscription period will close on Shrawan 19 if the issue is fully subscribed earlier. Otherwise, it will remain open until Shrawan 28.

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