Nabil Bank to Issue 30 Lakh Units of “8% Nabil Bank Debenture 2089”

May 8, 2024 | Investopaper

Nabil Bank Ltd. (NABIL) is going to issue a debenture named “8% Nabil Bank Debenture, 2089”. For this purpose, the bank has appointed Nepal SBI Merchant Banking Limited the issue and sales manager for the debenture.

An agreement has already been reached between the bank and Nepal SBI Merchant Banking in this regard.

Now, the bank needs approval from Securities Board of Nepal (SEBON) to issue the debenture.

If approved by SEBON, Nabil Bank will float 30 lakh units debenture at a face value of Rs 1,000. Hence, the total debenture issue amounts to Rs 3 Arba.

Out of the total issue, the bank will sell 18 lakh units debenture worth Rs. 180 crores through private placement. Likewise, the general public can apply for the remaining 12 lakh units that amount to Rs. 120 crores. Out of the general public’s quota, 5 percent has been reserved for the mutual fund schemes.

The debenture will provide 8 percent interest per annum to the investors. The maturity period of the debenture is 8 years. Hence, the bank will refund the principal amount in 2089 BS.


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