SEBON grants Sunrise Bank to float Rs 3 billion worth of debenture

Sunrise Bank has received a go-ahead signal from SEBON on October 16 to issue Rs 3 billion worth debenture program that has a maturity period of seven years with 10.25% interest yield and is payable semi-annually. Out of the total 30 lakh unit debentures, 12 lakh units will be floated for general public while 18 lakh units will be issued for the institutional investors. Interested investors can apply for minimum 25 unit and maximum 3 lakh unit debentures, as per the media statement.