The bank started issuing ‘Shine Resunga Debenture’ from July 16. The debenture will mature in 10 years and will yield 8 percent annual interest.
The bank is issuing 1 million units of debentures worth Rs 1 billion. Out of total offered units, the bank will issue 60 percent i.e. 600,000 units to personal financers while the bank will issue 40 percent i.e. 400,000 units worth Rs 400 million to general public.
Moreover, the bank has allocated 5 percent i.e. 20,000 units to mutual funds.
The interested investors can apply for a minimum of 25 units and maximum of 500,000 units of shares.
The bank has appointed NIMB Ace Capital as issue manager. The interested investors can apply from all C-ASBA approved BFIs and Meroshare.
ICRA Nepal has assigned BB+ rating to the issuer indicating moderate risks.
