NIC Asia Bank to issue “10% NIC Asia Debenture 2085/86” worth Rs 4 arba from Magh 13; Applications can be placed for minimum 25 units

NIC Asia Bank Limited will be issuing “10% NIC Asia Debenture 2085/86” from Magh 13, 2075. The issue for 40 lakh unit debenture will remain open till Magh 16, 2075.

Out of the 40 lakh units, the bank is issuing 16 lakh units for the general public which includes 80,000 units issued for the mutual funds.

NIC Asia had mentioned the return rate for the debenture as 11% when it had signed the agreement with Nepal SBI for appointment as issue manager. However, the debenture will be providing 10% return on the investment which will be paid semi-annually.

Interested applicants can place applications for minimum 25 units and maximum 20 lakh units for par value of Rs 1,000.

Application can be placed form the branches of Nepal SBI Merchant Banking Limited, NIC Asia bank or any financial institutions providing C ASBA facilities.

Care Ratings Nepal had assigned “CARE-NP A” rating indicating low credit risk to the debenture.

With the issuance of the debenture, the total capital raised through debenture of NIC Asia bank will reach Rs 9.33 arba.