As per issue manager, Siddhartha Capital, till date merely 10,000 units of debenture have been subscribed against 1,140,000 units of debenture issued to the public.
The bank is issuing '10% NMB Debenture 2085' from March 14. The bank is issuing 3 million units of debenture worth Rs 3 billion having a face value of Rs 1000 per debenture.
The debenture that will mature in 10 years will yield 10 percent interest paid semi-annually. Out of the total units, the bank will issue 40 percent i.e. 1.2 million units to the 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 the debenture to mutual funds. In this sense, the general public can apply for the remaining 1,140,000 units of the debenture.
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.
