April 23: Laxmi Bank has appointed Nabil Investment Banking Limited as the issue manager for issuing the bank’s debentures.

Ajaya Bikram Shah, CEO of Laxmi Bank, and Sabir Bade Shrestha, CEO of Nabil Investment Banking Limited, signed an agreement to this effect amid a recent event. Nabil Investment Banking Limited has also been appointed as the trustee for the upcoming debentures.

Laxmi Bank said in a statement that it is issuing debentures of Rs 2 billion for a tenure of 10 years at a coupon rate of 10 percent per annum. The bank’s current debentures worth Rs 400 million is maturing on February 2020, the statement added.

Laxmi Bank has been providing its service through a network of 101 branches across 46 districts, five hospital service counters, 118 ATMs, more than 2,500 remittance agents and 51 branchless banking agents spread across the country.