NIC Asia Bank to Issue 5 Billion Worth of Debentures

NIC Asia Bank Limited is set to offer an attractive opportunity to investors by issuing the ‘7 Percent NIC Asia Debenture 2091’ worth 5 billion rupees. The sale of these debentures, featuring a face value of 1,000 rupees per unit and totaling 50 lakh units, will commence on Chaitra 25. The Nepal Securities Board has already granted approval for this issuance on Chaitra 13. The bank has designed this scheme targeting both individual and public investors.

Out of the total debentures, 60 percent (30 lakh units) will be sold on an individual basis, while 40 percent (20 lakh units) will be made available to the general public. Additionally, 1 lakh units have been allocated for collective investment funds. Investors can apply for a minimum of 25 units and a maximum of 25 lakh units. This 10-year debenture offers an annual interest rate of 7 percent. Applications will be accepted from Chaitra 25 to Chaitra 28, with the possibility of an extension until Baisakh 8 if needed. Prabhu Capital Limited has been appointed as the issue and sales manager for this debenture.