The bank is issuing 3 million units of debenture at a face value of Rs 1,000. Out of the 3 million issued debentures, the bank will issue 1.2 million units of debenture worth Rs 1.20 billion to the general public including 60,000 units allocated to the mutual fund.
The remaining 1.8 million units of debenture will be financed privately. The interested investors can apply for a minimum of 25 and maximum of 1,170,000 units of debenture. The issue will close on July 25 and lately on August 20.
The debenture will issue 10.25 percent interest rate and will mature in 10 years period. ICRA Nepal assigned (ICRANP)LA- grade to the issue indicating average credit risk.
The bank has appointed NMB Capital as its issue manager.
