The bank is issuing 8.75 percent debenture worth Rs 1 billion from December 2. The bank is issuing ‘8.75% Garima Debenture 2085’ with a maturity period of 7 years.
The bank is issuing one million units of debenture at a face value of Rs 1,000. Out of the total offered units, the bank is issuing 400,000 units to general public and the remaining 600,000 units to private financers.
The bank has also allocated 5 percent out of general public quota to mutual funds.
The interested investors can apply for a minimum of 25 and maximum of 100,000 units of debentures.
The bank has appointed NIBL Ace Captial as its issue manager. The interested investors can apply for the debenture from all C-ASBA approved BFIs.
ICRA Nepal has assigned ‘B-‘ rating to the issue indicating moderate risk.
