Kumari Bank Limited (KBL) has successfully completed the allotment process for its recent “10% KBL Debenture 2090” offering on the 19th of Kartik, 2080. The subscription window for this debenture opened on the 2nd of Kartik and concluded on the 13th of Kartik, 2080.
A total of 50 lakh units of these debentures were made available, each having a par value of Rs. 1,000. Notably, 60% of the total units, equivalent to 30 lakh units, were allocated through a private placement arrangement, while the remaining 40%, or 20 lakh units with a total value of Rs. 2 Arba, was opened up for the general public to subscribe.
This debenture offering is expected to generate a total of Rs. 5 Arba in funds for the bank. The “10% KBL Debenture 2090” is named after its key features, featuring a maturity period of 10 years and a fixed coupon rate of 10%.
Nabil Investment Banking Limited took on the role of the issue manager for this debenture offering, overseeing the various aspects of the issuance process.