Nepal Infrastructure Bank To Issue “NIFRA Urja Rinpatra 2085/86”

June 26, 2022 | Investopaper

Nepal Infrastructure Bank Limited (NIFRA) is planning to issue a debenture named ” NIFRA Urja Rinpatra 2085/86″. For this purpose, the bank has submitted the application to the Securities Board of Nepal (SEBON) seeking permission for the issuance of debenture. Only after the approval from the board, the bank can sell the debenture.

NIFRA will float 50 lakh units debenture at a face value of Rs 1000. Hence, the total debenture issue amounts to Rs 5 Arba.

Out of the total issue, the bank will sell 30 lakh units debenture worth Rs. 300 crores through private placement. Likewise, the general public can apply for the remaining 20 lakh units that amount to Rs. 200 crores.

The debenture will provide 7 percent interest per annum to the investors. The maturity period of the debenture is 7 years. Hence, the bank will refund the principal amount in 2086 BS.

The bank has appointed NIBL Ace Capital Limited as the issue and sales manager. An agreement has already been reached between the bank and the capital on this regard.

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