According to the bank, the debenture that will mature in 10 years will yield 10 percent interest paid semi-annually. The debenture issue will close early on March 18 and lately on March 28.
Out of the total units, the bank will issue 40 percent i.e. 1.2 million units to general public whereas the remaining 1.8 million will be funded by private placement.
Moreover, the bank has allocated 5 percent i.e. 60,000 units of debenture to mutual funds. In this sense, the general public can apply for the remaining 1,140,000 units of debenture.
NMB bank has appointed Siddhartha Capital as its issue manager. The interested investors can apply for the debenture from all ASBA approved BFIs.
ICRA Nepal has assigned LA- grade to the issuance indicating low credit risk. Previously, the bank issued debenture worth Rs 500 million.
