The bank is issuing 3 million units of debentures at a face value of Rs 1,000 each. Out of the total offered shares, the bank will issue 60% i.e. 1.8 million units of debentures worth Rs 1.80 billion to private investors while the remaining 40% i.e. 1.20 million units will issued to the general public. Out of the total number of debentures allocated to public, 5% i.e. 60,000 units of debentures have been set aside for mutual funds.
The interested investors can apply for a minimum of 25 units and maximum of all units of debenture. The issue will close early on July 3 and lately on July 14.
Sanima Capital Limited has been appointed as the issue manager for the debenture issuance. The investors can apply for all C-ASBA approved BFIs and Meroshare.
Care Ratings Nepal has assigned a 'CareNP' Single A Minus Issue Rating to the bank. This indicates high security in terms of meeting financial obligations on time. The interest accrued will be paid half-yearly.
