NIC Asia Bank Limited (NICA) is going to issue debentures at an annual interest rate of 8.5 percent. NICA is going to open the issue and sale of '8.50 percent NIC Asia debenture 2088' from June 20 (2078 Ashad 6). The term of the debenture will be 10 years.
NICA is about to issue 3 million units of debenture with a face value of Rs 1,000 per unit, equivalent to Rs 3 billion. Out of this, 1.2 million units worth Rs 1.20 billion will be sold to the public while the remaining 1.8 million units worth Rs 1.80 billion will be sold individually, according to NICA.
Applications for the purchase of the debenture should be submitted as soon as possible by June 23 (2078 Ashad 9). If the application is not received by that time, the eviction period will be extended till July 9 (2078 Ashad 20). Investors will be able to apply for a minimum of 25 units and a maximum of 1.5 million units.
Sunrise Capital Limited is the debenture issuer and sales manager of NICA. Investors can apply for the debenture purchase from C-ASBA member banks and financial institutions and their branch offices.
In the credit rating issued for debenture issuance, Care Rating Nepal has given NIC Asia Bank a ‘Care NP Single-A (Issuer)’ rating with low credit risk. Institutions that receive that rating is considered sufficiently secure to meet their financial obligations on time.
Debenture