The bank started issuing the debenture from July 14. The debenture will mature in 10 years and yields 7 percent annual interest.
The bank is issuing 3 million units debenture worth Rs 3 billion. Out of total offered units, the bank will issue 60 percent i.e. 1.8 million units worth Rs 1.80 billion to personal financers while the remaining 40 percent i.e. 1.2 million units of shares worth Rs 1.20 billion to the general public. The bank has also allocated 5 percent i.e. 60,000 units debenture of general public quota to the mutual funds.
Interested investors can apply for a minimum of 25 and maximum of all units of debentures.
The bank has appointed Nabil Investment Banking as issue manager. The investors can apply from all C-ASBA approved BFIs and Meroshare.
ICRA Nepal has assigned AA rating to the issuer indicating adequate safety.
