Machhapuchhre Bank to issue debenture worth Rs. 3 Arba from today

July 22, 2019 | Investopaper

Machhapuchhre Bank Debenture 2083

Machhapuchhre Bank is going to issue ‘10.25% Machhapuchchhre Bank Debenture 2083’ from Shrawan 6, 2076. The debenture issue will remain open until Shrawan 9, 2076. If remained under-subscribed, the issue will extend to Bhadra 3, 2076.

The bank will issue 30 lakh units debenture at par value of Rs. 1,000. The debenture is worth Rs. 3 Arba. Out of the total issue, the bank will sell Rs. 1.80 Arba worth of debenture through private placement.  The general public will participate in the remaining Rs. 1.20 Arba of the debenture.

Interest Rate and Maturity Period

The interest rate on debenture is 10.25 percent per annum payable semi-annually. The maturity period of debenture is of 7 years i.e. the debenture will mature on 2083 B.S.

Ratings

ICRA Nepal has provided [ICRA] LA- for the debenture of Machhapuchhre bank. This indicates an adequate degree of safety regarding timely servicing of financial obligation in Nepal & low credit risk.

Sebon provided the approval for debenture on Ashad 4, 2076.

Issue Manager

NMB Capital Limited is appointed as the issue manager for the debenture of Machhapuchhre bank.

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