April 3: Nabil Bank has appointed Laxmi Capital Market Limited as its issue manager for the issuance of debentures of the bank.

Nabil Bank said in a statement that it has signed an agreement with Laxmi Capital Market Limited regarding this issue.

The bank announced that it is going to issue debentures worth Rs 2 billion with a face value of Rs 1000.  The management of both public issuance and private placement shall be done by Laxmi Capital, the statement added.

Nabil Bank's CEO Anil Keshary Shah and Rajiv Sapkota, CEO of Laxmi Capital, signed the agreement on behalf of their respective organisations.

Laxmi Capital Market Limited is a wholly owned subsidiary of Laxmi Bank Limited. It has obtained license from the Securities Board of Nepal (SEBON) to be engaged in merchant banking activities such as Initial Public Offering (IPO), Underwriting of Securities, Portfolio Management Services, Registrar to Share, etc.

Nabil Bank said it has been providing banking services through a network of 75 branches, 128 ATMs and more than 1500 Nabil remit agents throughout the nation and many correspondents across the globe.