Kathmandu. Today is the last day to apply for nic Asia Bank bond. The bank has issued ‘7 percent NIC Asia Debenture 2091’ at an interest rate of 7 percent per annum for a period of 10 years.
The bank has issued 5 million units of debentures worth Rs 5 billion at a face value of Rs 1,000 each. Out of this, 60 percent i.e. 3 million units of debentures worth Rs 3 billion will be distributed individually while the remaining 40 percent i.e. 2 million units worth Rs 2 billion will be distributed to the general public. 5% i.e. 100,000 units of debentures have been set aside for mutual funds.
Infomerics Credit Rating Nepal has awarded iRN issuer rating triple B+ to the bank in the credit rating for the issue. This indicates that there is moderate security in terms of meeting financial obligations on time.
Investors can apply for a minimum of 25 units and a maximum of 2.5 million units. The interest earned on the bond will be paid after deducting taxes after the end of the first financial year and the second half of each financial year.
Prabhu Capital Limited is the issue manager of the bank. Investors can apply online using the software ‘Mero Share’ developed by the banks and financial institutions participating in the ASBA service approved by the Securities Board of Nepal and their designated branch offices and CDS and Clearing Limited through the C-ASBA system.
