The bank is issuing 2 million units of ‘9% Nepal SBI Bank Debenture, 2089’ at a face value of Rs 1,000 from August 3.
The debenture with 10 years of maturity period will yield 9 percent interest rate payable semi-annually. Out of the total debenture, the bank will issue 60 percent i.e. 1.2 million units debenture worth Rs 1.20 billion to private financers and 40 percent i.e. 800,000 units worth Rs 800 million to the general public. The bank has allocated 5 percent of general public quota i.e. 40,000 units to mutual funds.
The bank has appointed NMB Capital as its issue manager. The interested investors can apply from C-ASBA approved BFIs and Meroshare.They can apply for a minimum of 25 and a maximum of 800,000 units of debentures.
ICRA Nepal has assigned ICRA NP AA rating to the issue indicating high degree of safety.
