Shangrila Development Bank Limited is going to issue debentures worth Rs. 750 million from June 20. The bank is about to issue a 10-year debenture called 'Shangrila Development Bank Debenture 2087' with a total face value of Rs 1,000.
Out of the 750,000 units of this debenture, 450,000 units equal to the total amount of Rs. 450 million due to debenture will be sold individually. Out of the total debenture of Rs. 300 million equal to 300,000 debentures, 5% or 15,000 debentures allocated for collective investment funds will be sold to the public through public issues.
In this debenture, applications can be submitted from the participating banks and financial institutions, and their branch offices. The issuance of this debenture will be closed shortly after June 23 and late July 4 after banking hours. Interested investors can apply for a minimum of 25 units and a maximum of 300,000 units.
Investors will receive 9 percent interest annually for investing in this debenture. NIBL Ace Capital Limited is the sales manager of the bank.
Debenture
