Nepal Investment Bank To Issue Bond Worth Rs 4 Arba From Magh 16

January 29, 2021 | Investopaper

Nepal Investment Bank Limited (NIBL) is issuing a bond named “8.5%, 7 Years, Nepal Investment Bank Bond 2084“. The debenture issue will open from Magh 16, 2077 BS. Interested investors can apply for the bond until Magh 20, 2077 BS. If the issue remains under-subscribed until that period, it would extend to Magh 30, 2077 BS.

Securities Board of Nepal (SEBON) has provided the approval for the issuance of the bond on Mangsir 18, 2077. NIBL had submitted the application to SEBON on Ashwin 5, 2077 for the issuance of the bond.

Nepal Investment Bank will float 40 lakh units bond. The par value of each unit of the bond is Rs 1,000. Hence, the total bond issue is worth Rs 4 Arba. Out of the total issue, NIBL will sell 24 lakh units bond worth Rs. 2.40 Arba through private placement. Likewise, the general public can apply for the remaining 16 lakh units that amount to Rs. 1.6 Arba. Out of the public issue size of 1.6 lakh units, mutual funds will receive 5 percent or 80,000 units.

The debenture will provide an 8.5 percent interest per annum payable semi-annually. The maturity period is of 7 years. Hence, the bank will refund the principal amount in 2084 BS.

One can apply for a minimum of 25 units and a maximum of 2,50,000 units.

RBB Merchant Banking Limited is the issue manager for the Nepal Investment Bank Bond 2084.


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