Nepal Bank To Float 25 Lakh Units Of “10.50% Nepal Bank Debenture 2084”
July 1, 2022 | Investopaper
Nepal Bank Ltd. (NBL) is going to issue a debenture named “10.50% Nepal Bank Debenture 2084”.
For this purpose, the bank has submitted the application to Securities Board Of Nepal (SEBON) on Ashad 10, 2079 BS seeking permission for debenture issuance. Only after the permission from the regulatory body, the bank can sell the debenture to the general public.
If approved by SEBON, Nepal Bank will float 25 lakh units debenture at a face value of Rs 1,000. Hence, the total debenture issue amounts to Rs 2.50 Arba.
Out of the total issue, the bank will sell 15 lakh units debenture worth Rs. 150 crores through private placement. Likewise, the general public can apply for the remaining 10 lakh units that amount to Rs. 100 crores.
The debenture will provide 10.50 percent interest per annum to the investors. The maturity period of the debenture is 5 years. Hence, the bank will refund the principal amount in 2084 BS.
Nabil Investment Banking Limited is the issue and sales manager for the debenture. An agreement has already been reached between the bank and Nabil Investment Banking in this regard.
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