Kathmandu. Shine Resunga Development Bank is going to open the issue and sale of debentures from Wednesday (July 15). The bank is issuing ‘Shine Resunga Debenture’ at an interest rate of 8 percent per annum for a period of 10 years.

The bank is issuing one million units of debentures worth Rs 1 billion at a face value of Rs 1,000 each. Out of this, 60 percent i.e. 600,000 units worth Rs 600 million will be distributed individually while the remaining 40 percent i.e. 400,000 units worth Rs 400 million will be allotted to the general public. 5% i.e. 20,000 units of debentures have been set aside for mutual funds.

Investors can apply for a minimum of 25 units and a maximum of 500,000 units. The issue will be closed at the earliest on July 15 and the issue will be held on July 14. NIMB Ace Capital Limited is the issue manager of the bank.

Investors can apply online using the software ‘Mero Share’ developed by the banks and financial institutions participating in the ASBA service approved by the Securities Board of Nepal and their designated branch offices and CDS and Clearing Limited.