Agriculture Development Bank to issue debenture

Jan 20, 2020 10:14 AM Merolagani

Agriculture Development Bank (ADBL) is set to issue debenture worth Rs 2.50 billion from January 28.  The bank is issuing 2.5 million units of debenture at a face value of Rs 1,000.

Out of the total offered debenture, the bank will issue 1 million units to general public and 1.5 million to private funding.

The debenture named ‘10.35% ADBL Agriculture Bank Debenture 2083’ has maturity period of 7 years and yield 10.35 percent interest payable semi-annually. The bank has appointed NIBL Ace Capital as its issue manager.

The interested investors can apply for the debenture from all ASBA approved BFIs. The issue will close early on January 31 and lately on February 26. The interested investors can apply for a minimum of 25 and maximum of 250,000 units of debenture.

ICRA Nepal has assigned ‘ICRA NP LA’ rating to the issue indicating adequate degree of safety.

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