The NIC Asia Bank will issue the ‘8.5 percent NIC Asia Debenture 2088‘ debenture. From Ashad 6, 2078 BS, the debenture offering will begin. The issue will close on Ashad 9, 2078 BS if it is completely subscribed. If it remains under-subscribed until then, the application deadline will be extended to Ashad 20, 2078 BS.
The bank plans to issue a 30,00,000-unit debenture. Each unit of debenture has a par value of Rs 1,000. As a result, the total debenture issue value is Rs 3 Arba. The bank will sell 18 lakh units of debentures worth Rs. 1.80 Arba through private placement out of the entire offering.
Similarly, anyone can apply for the remaining 12 lakh units, which are worth Rs. 1.20 Arba. Mutual funds will receive 5% of the 12 lakh units available in the public offering, or 60,000 units.
A minimum of 25 units and a maximum of 15,00,000 units can be applied for.
On Jestha 20, 2078 BS, the Securities Board of Nepal granted the bank authorisation for the issue of debentures.
The issuer and sales manager for the debenture is Sunrise Capital Limited.
With the current financial market’s low interest rates, the debenture issue is likely to draw attention. Because the interest rate on this debenture is higher than the fixed deposit rate, investors may want to consider acquiring it as a long-term investment option.