Prime Commercial Bank Closes Issue of 6.25% Prime Bank Debenture 2093
Prime Commercial Bank has closed the public issue of its 6.25% Prime Bank Debenture 2093 after receiving applications from more than 11,600 investors.
Prime Commercial Bank Limited (PCBL) has closed the public issue of its "6.25% Prime Bank Debenture 2093" from today, Ashadh 23, 2083.
The 10-year debenture, carrying an annual coupon rate of 6.25%, had been open for subscription since Ashadh 16, 2083.
The bank is issuing 3 million units of the debenture at a par value of Rs. 1,000 per unit. Of the total issuance, 1.8 million units (60%) will be subscribed through private placement, while the remaining 1.2 million units are offered to the general public. Out of the public issue, 60,000 units (5%) have been reserved for mutual funds.
The issuance aims to raise a total of Rs. 3 billion.
According to CDSC, as of today, 11,683 applicants had applied for 2,146,896 units, representing applications worth more than Rs. 2.14 billion.
Sanima Capital Limited is serving as the issue manager for the debenture. Investors were allowed to apply for a minimum of 25 units and up to the total number of units offered.