Shangrila Development Bank Limited (SADBL) to Issue 9 pc Debenture 2087

Shangri-la Development Bank Limited (SADBL) is going to issue debenture at a 9 percent annual interest rate. SADBL is going to open the issuance and sale of '9 percent Shangrila Development Bank Debenture 2087' from June 20 (2078 Ashad 6). The term of the debenture will be 10 years.

SADBL is about to issue 750,000 units of debentures with a face value of Rs 1,000 per share, equivalent to Rs 750 million. Out of this, 300,000 units worth Rs 300 million will be sold to the public while the remaining 450,000 units worth Rs 45 crore will be sold individually, according to SADBL.

Applications for the purchase of the debenture should be submitted as soon as possible by June 23 (2078 Ashad 9). If the application is not received by that time, the eviction period will be extended till July 9 (2078 Ashad 25). Investors will be able to apply for a minimum of 25 units and a maximum of 300,000 units.

The debenture issuance and sales manager of SADBL is NIBL ​​Ace Capital Limited. Investors can apply for the debenture purchase from C-ASBA member banks and financial institutions and their branch offices.

In the credit rating issued for debenture issuance, ICRA Nepal has given the ‘ICRA NP Double B Plus’ rating to Shangrila Development Bank Limited (SADBL) indicating medium loan risk. Institutions that receive this rating are considered to be moderately safe in terms of timely fulfillment of financial obligations and credit risk.