Agricultural Development Bank to issue debenture worth Rs. 2.50 Arba from Magh 14
January 31, 2020 | Investopaper
Agricultural Development Bank (ADBL) is going to issue the debenture named “10.35% ADBL Debenture 2083” from Magh 14, 2076. The debenture issue will remain open until Magh 17, 2076. If it remains undersubscribed until that period, it will extend to Falgun 14, 2076
The bank has received approval from Sebon on Poush 29, 2076 to issue the debenture. The application was submitted to Sebon on Karthik 25, 2076 for the issuance of the debenture.
The ‘A’ class commercial bank is planning to issue 25 lakh units of debenture worth Rs. 2.50 Arba. The debenture will provide a 10.35 percent interest return to the investors. ADBL debenture matures in the 2083 BS with a maturity period of 7 years.
Out of the total issue of Rs. 2.50 Arba, the bank will sell Rs. 1.50 Arba worth of debenture through private placement. Likewise, the remaining Rs. 1 Arba worth of debenture is the public issue size.
The issue has already received approval from Nepal Rastra Bank. After the approval from the Securities Board of Nepal (Sebon), ADBL will now issue the debenture.
Agricultural Development Bank has signed an agreement with NIBL Ace Capital Limited for the debenture issue.
