NCC Bank To Close ‘NCC Rinpatra 2086’ From Chaitra 18

March 31, 2021 | Investopaper

Nepal Credit & Commerce (NCC) Bank is currently issue the debenture with a period of 10 years. The debenture is named ‘9.5%, 10 years, NCC Rinpatra 2086’. The debenture issue was open from Chaitra 13, 2077 BS. Due to over-subscription, the issue will close on Chaitra 18, 2077 BS. If it had remained under-subscribed until that period, the deadline for application would extend to Chaitra 27, 2077 BS.

Securities Board of Nepal (SEBON) had provided the approval for the debenture issuance on Magh 5, 2077 BS. The bank had submitted the application to SEBON on Magh 1, 2076.

NCC bank is floating Rs 3 Arba worth of debenture. The issue will provide a 10.50 percent interest rate per annum payable semi-annually. The maturity period of the debenture is of 10 years. Hence, the bank will refund the principal amount in 2086 BS.

Out of the total issue, the bank will sell 18 lakh units worth Rs. 1.80 Arba through private placement. Likewise, the general public can apply for the remaining 12 lakh units.

The debenture has a par value of Rs. 1000. Interested investors can purchase a minimum of 25 units and a maximum of 300,000 units.

Nabil Investment Banking Limited is the issue manager for the debenture of NCC Bank.

Suggested Readings:

List Of Upcoming Debentures In Nepal