The NIC Asia Bank is currently issuing debentures. ‘8.5 percent NIC Asia Debenture 2087‘ is the name of the debenture.
On Jestha 20, 2078 BS, the Securities Board of Nepal granted the bank authorisation for the issue of debentures.
The bank will now float a 30,00,000 unit debenture after receiving permission from SEBON.
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.
The debenture will pay 8.5 percent interest every two years. On 2087 BS, the situation will come to an end.
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.