Kathmandu. Laxmi Sunrise Bank Limited (LBL) is issuing debentures worth Rs 3 billion to the general public from today.

The bank is issuing debentures with a maturity period of 10 years. The company is issuing 3 million units of debentures at a face value of Rs 1,000 per unit.

Out of the total issue, 18 Lakh units will be sold individually while the remaining 12 Lakh units will be set aside for the general public. 5% i.e. 60,000 units have been set aside for the mutual funds.

Applications can be submitted for the bonds till August 19. If the application is not received as per the demand within the stipulated period, the application can be submitted till August 28. Applications can be made for a minimum of 25 units and a maximum of all units.

The debenture has an interest rate of 7 percent per annum. Machhapuchchhre Capital Limited has been appointed as the issue manager for the IPO issuance.