The bank is issuing 1 million units of debenture worth Rs 1 billion at a face value of Rs 1,000. Out of the total offering, the bank will issue 40 percent to the general public while the remaining 60 percent will be financed privately.
The 'Prabhu Bank Debenture 2086' will mature in 10 years and yield 10 percent interest. In this regard, the bank has appointed Sunrise Capital as its issue manager.
The interested investors can apply for a minimum of 25 and a maximum of 400,000 units of debenture. The investors can apply from all ASBA approved BFIs and meroshare software.
ICRA Nepal has assigned LBBB rating to the issue indicating moderate degree of safety.
