ICFC Finance closing debenture issue from today

February 28, 2020 | Investopaper

ICFC Finance is closing its debenture issue from today i.e Falgun 16, 2076. Due to the oversubscription of the debenture, today is the closing day. The finance company is issuing debenture with a maturity period of 7 years from Falgun 13, 2076. If the debenture issue had remained undersubscribed until today, the issue would extend to Falgun 27, 2076.

The finance is issuing 2 lakh units debenture worth Rs. 20 crores. The company will pay 12 percent interest to the investors on the debenture. The debenture will mature in 2083.

ICFC Finance received approval for the debenture issue from the Securities Board of Nepal (Sebon) on Magh 6, 2076. The Finance had submitted the application to Sebon on Ashwin 16, 2076.

Out of the total issue, 1.20 lakh units worth Rs. 12 crores will be sold through private placement. Likewise, the general public can purchase 80,000 units debenture worth Rs. 8 crores.

Investors can apply for a minimum of 25 units worth Rs. 25,000. Likewise, they can apply for a maximum of 76,000 units.

Global IME Capital Limited is the issue manager for the Debenture.


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