Kathmandu. Today is the last day to apply for the bonds of Rastriya Banijya Bank Limited. The bank has extended the deadline for applying for ‘7 percent RBBL Debenture 2088’, which offers 7 percent interest rate annually for a period of seven years from April 1, 2020.
The bank has issued 2.5 million units of debentures worth Rs 2.5 billion at a face value of Rs 1,000 each. Out of this, 60 percent i.e. 1.5 million units of debentures worth Rs 1.5 billion will be distributed individually while the remaining 40 percent i.e. one million units worth Rs 1 billion will be distributed to the general public.
5% i.e. 50,000 units of debentures have been set aside for mutual funds. General investors can apply for 950,000 units of debentures.
Care Ratings Nepal has given care NPA+ issuer rating to the bank in the credit rating for the issue of debentures. This indicates that there is sufficient amount of security in terms of meeting financial obligations on time.
Investors will have to apply for a minimum of 25 units of shares and maximum of all 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.
Sanima Capital Limited is the issue manager of the bank. Investors can apply from the banks and financial institutions participating in the C-ASBA service approved by the Securities Board of Nepal and their designated branch offices.
