NIC Asia set to issue Rs 4 arba worth of “10% NIC ASIA debenture 2085/86”; SEBON to provide final approval

NIC Asia Bank Limited is set to issue 40 lakh unit debentures under the name of “10% NIC ASIA Debenture 2085/86”. The debenture has been listed in SEBON’s pipeline for approval.

The commercial bank will be issuing 8,00,000 units for the general public while remaining 32,00,000 will be for the private placement.

Nepal SBI Merchant Banker Limited has been appointed as the issue manager for the debenture issuance.

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.

NIC Asia has also joined the bandwagon of many commercial banks to issue debentures for raising the required capital.