The bank that issued debenture of Rs 600 million failed to sell out the debenture worth Rs 218.3 million. NIBL Ace Capital informed that a total of 1,445 applicants have applied for 378,661 units of debenture worth Rs 378.6 million.
Out of 1.5 million units of debentures, the bank issued 600,000 units to the general public. The bank had allocated 5 percent i.e. 30,000 units to mutual funds that went undersubscribed by 27,000 units. The general public could apply for a total of 597,000 units of debentures.
The debenture that will mature in five years will yield 10.25 percent return on investment paid semi-annually.
ICRA Nepal has assigned “ICRA LA-” rating indicating low credit risk to the debenture.