SEBON approves "10.25% Prabhu Bank Debenture 2086" worth Rs 1 arba; ICRA Assigns LBBB rating

Securities Board of Nepal (SEBON) has approved Prabhu Bank's Rs 1 arba worth of debentures. The debenture will be yielding 10.25% interest with a maturity period of 10 years.

"10.25% Prabhu Bank Debenture 2086" will be issuing a total of 10 lakh units at a price of Rs 1000 per unit. The bank has separated 6 lakh units for private placements and the remaining 4 lakh units for the general public.

Sunrise Capital is the issue manager of the debenture issuance.

ICRA Nepal Limited has assigned [ICRANP] LBBB (Pronounced as ICRA NP L Triple B) Rating to the Rs. 1 arba Subordinated Debenture Programme of Prabhu Bank Limited. Similarly, ICRA Nepal Limited has assigned issuer rating at [ICRANP-IR] BBB (Pronounced as ICRA NP IR Triple B) to Prabhu Bank Limited. Issuers with this rating are considered to have a moderate degree of safety regarding timely servicing of financial obligations. Such issuers carry moderate credit risk.