November 11: Sunrise Bank Limited has signed an agreement with Prabhu Capital Ltd to float Debentures worth Rs 1 billion. 

According to Sunrise Bank, Prabhu Capital will act as Debenture Issue Manager and Debenture Trustee of the bank.

Sunrise Bank’s CEO Ratna Raj Bajracharya and Prabhu Capital’s CEO Bhola Prasad Pathak signed the agreement on behalf of 

their respective organisations amid a recent function.

Out of 1 million units of debentures worth Rs 1,000 each, 800,000 debentures (ie 80 percent) will be offered on private 

placement basis and the remaining 200,000 debentures will be offered to the general public.

“Sunrise Debenture-2080 will be offering annual interest rate of ten percent, payable half yearly and has maturity period 

of five years,” reads a statement issued by the bank.

The bank has been offering its services through 102 branches, 24 BLBs, four extension counters and 110 ATMs across the 

country. As of now, the bank said it has collected deposits of Rs 75.79 billion and has provided loan of Rs 66.82 billion.