Prime Commercial Bank Extends Deadline For Debenture Until Chaitra 30

April 13, 2022 | Investopaper

Prime Commercial Bank Ltd. (PCBL) is currently issuing a debenture named “10 yrs, 10% Prime Debenture 2088”. The debenture offering is open from Chaitra 16, 2078 BS. If fully subscribed, the issue was set to close on Chaitra 21, 2078 BS. However, due to under-subscription until that period, the deadline for application was extended till Chaitra 30, 2078 Bs.

Prime Bank is floating 25 lakh units debenture at a face value of Rs 1000. Hence, the total debenture issue amounts to Rs 2.50 Arba.

Securities Board Of Nepal (SEBON), the regulatory body, granted the permission for debenture issuance on Falgun 23, 2078 BS. The Bank had submitted the application to  SEBON on Poush 21, 2078 BS.

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. Out of the public issue size of 10 lakh units, mutual funds will receive 5 percent or 50,000 units.

Interested Investors can apply for a minimum of 25 units and a maximum of 5,00,000 units.

The debenture will provide 10 percent interest per annum to the investors. The maturity period of the debenture is 10 years. Hence, the bank will refund the principal amount in 2088 BS.

The bank has appointed RBB Merchant Banking Limited as the issue and sales manager for the debenture.


List Of Upcoming Debentures In Nepal


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