Investors can apply for ’10.35% ADBL Rinpatra 2083’ from Magh 14, 2076; total 10 Lakh units offered to general public

Mon, Jan 20, 2020 12:58 PM on Bonds & Debentures, Latest,
Investors...

Agricultural Development Bank Limited (ADBL) has published an offer letter for the issue of ‘10.35% ADBL Rinpatra 2083’. The issue will be open from Magh 14, 2076. The closing date for the issue is set at Magh 17, 2076 which can be extended up to Falgun 14, 2076 in case of under subscription.

Agricultural Development Bank is issuing a total of 25 Lakh units of debentures at par value of Rs.1000 per unit. The total value of the issue is Rs.2.50 Arba and will be providing 10.35% interest rate. The debenture will mature in 7 years i.e. in 2083.

Out of the total issue, 10 Lakh units (40% of the issue) will be issued to the general public while the remaining 15 Lakh units (60% of the issue) will be privately placed.

NIBL Ace Capital Limited has been appointed as the issue manager. Interested investors can apply for minimum 25 units and maximum 250,000 units of debentures.

ICRA Nepal has assigned [ICRANP-IR] A (pronounced ICRA NP issuer rating A), to Agricultural Development Bank Limited (ADBL) indicating an adequate degree of safety regarding timely servicing of financial obligations. Such issuers carry a low credit risk.

ICRA Nepal has also reaffirmed the rating of [ICRANP] LA (pronounced ICRA NP long-term debt rating A) to the proposed subordinated debenture programme worth NPR 2,500 million of Agricultural Development Bank Limited (ADBL). Instruments with this rating are considered to have an adequate degree of safety regarding the timely servicing of the financial obligations. Such instruments carry a low credit risk.