SEBON chair's first decision: Everest Bank permitted to issue bonds

Kathmandu, November 27 — Immediately after assuming office on Wednesday, Securities Board of Nepal (SEBON) Chairman Santosh Narayan Shrestha has given permission to Everest Bank to issue bonds.

Shrestha has given permission to issue 1.2 million units of Everest Bank bonds.

Everest Bank had sought permission to issue bonds in July but the process was stalled due to the absence of the chairman.

Mahesh Baral, Joint Secretary of the Ministry of Finance, who had been given the responsibility of acting chairman, had not signed such decisions.

Now Everest Bank will issue bonds at an interest rate of 7.50 percent for a period of 10 years. For this, the bank has appointed Laxmi Sunrise Capital as the sales manager.