'10.25% Machapuchchhre Debenture 2085' Oversubscribed

Aug 21, 2019 10:07 AM Merolagani

'10.25% Machapuchchhre Debenture 2085' issued by Machhapuchchhre Bank (MBL) from July 22- August 20 has been oversubscribed. 

Machhapuchchhre Bank claimed that the issue garnered a tremendous response from the investors which is first of its kind in the debenture market.

The bank issued 3 million units of '10.25% Machapuchchhre Debenture 2085' worth Rs 3 billion with a face value of Rs 1,000.

Out of the 3 million issued debentures, the bank issued 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 the debenture will be financed privately.

The debenture will yield 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 appointed NMB Capital as its issue manager.

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