NIC Asia Bank Opens Rs 5 Billion Debenture Issue Today

NIC Asia Bank Limited is launching the issuance and sale of its ‘7% NIC Asia Debenture 2091’ starting today, Chaitra 25. The 10-year debenture offers an annual interest rate of 7%. The bank plans to issue 5 million units worth Rs 5 billion, with each debenture priced at Rs 1,000.

Of this, 60% (3 million units) will be allotted privately, while 40% (2 million units) will be offered to the public, with 100,000 units reserved for mutual funds. Investors can apply for a minimum of 25 units and a maximum of 2.5 million units. The issue will close as early as Chaitra 28 or as late as Baisakh 8, 2082.

Prabhu Capital is the issue manager. Applications can be submitted via ASBA services or the ‘Mero Share’ platform. Infomerics Credit Rating Nepal has assigned the bank an ‘IRN BBB+’ rating.