NRB to auction ‘Development Debenture 2084’ worth Rs. 11 billion on Ashar 29

July 12, 2019 | Investopaper

Nepal Rastra Bank (NRB) is going to auction Development debenture 2084 ‘GA’ on Ashad 29, 2076. The debenture is worth Rs. 11 billion. It will mature in 2084. So, the maturity period of debenture is 8 years.

The central bank will auction the debenture based on the interest rate. It means that NRB will fix the coupon(interest) rate on the debenture through the auction. The auction will take place at 3 PM on Ashar 29.

Interested applicants should submit the bid on the link through Online Bidding System Software. The central bank will issue the debenture on Ashad 30, 2076. The interest will be payable semi-annually. The tax is applicable in the earned interest income. The principal amount will get paid on Ashar 30, 2084

Bank and Financial Institutions (BFIs), insurance companies, Non-BFIs, Organized institutions, and Nepalese citizens are eligible to purchase the development debenture.

NRB will sell 80 percent of the total development debenture 2081 through competitive bidding. Therefore, competitive bidders will participate in Rs. 880 crores of the debenture. Likewise, 20 percent or Rs. 220 crores will be allocated to non-competitive bidders.

The minimum purchase amount is Rs. 50,000.

The debenture is tradable in the Nepal Stock Exchange (NEPSE).

Investors can receive loans by putting the debenture as the collateral.


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