The Securities Board of Nepal has granted approval for Nepal Investment Mega Bank Limited’s “10% NIMB Debenture 2090.” The regulatory nod was received on Poush 2, 2080.
The debenture issuance, titled “10% NIMB Debenture 2090,” comprises a total of 40.40 lakh units, with each unit having a par value of Rs. 1,000. Out of the total units, 16.16 lakh will be made available to the general public, while the remaining 24.24 lakh units will be subscribed via private placement.
Prabhu Capital Limited has been appointed as the issue manager for the debenture issuance.
As indicated by its name, the “10% NIMB Debenture 2090” comes with a maturity period of 10 years, set to mature in the year 2090 BS. Unitholders of the debenture can expect a 10% annual return on their investment.