The bank started issuing 3 million units of debenture worth Rs 3 billion at a face value of Rs 1,000 from March 26. Out of the total offered debenture, the bank is privately financing 1.8 million units of debenture worth Rs 1.8 billion. The bank has also allocated 60,000 units of the debenture to mutual funds. The remaining 1.14 million units of debenture are being issued to the general public.
The interested investors can apply for a minimum of 25 and a maximum of 300,000 units of debenture.
The debenture will mature in 10 years and will yield 9.50 percent interest payable semiannually. ICRA Nepal has assigned BBB rating to the issue indicating moderate risk.
The bank has appointed Nabil Investment Banking as its issue manager. The interested investors can apply from all CASBA approved BFIs.
