NMB Bank 8.50 Percent Debenture-2087 Application Open

NMB Bank 8.50 Percent Debenture-2087 Application Open:

NMB Bank is set to open Debenture Sales worth Rs 2 billion for a period of 10 years from May 16. The bank is going to sell NMB Debenture 8.5-2087 / 88 with an annual interest rate of 8.5 percent.

Out of the total 2 million Debentures at the rate of Rs. 1,000 per unit to be issued by the Bank, 1.2 million units will be sold individually. 800,000 units will be sold to the public. Of which, 40,000 units at the rate of 5 percent have been reserved for collective investment funds. The general public will be able to apply for the remaining 760,000 lots.

Interested applicants will be able to apply for a minimum of 25 units and a maximum of 800,000 units. Debenture purchases can be applied for as early as May 16 and as late as May 30.

ICRA Nepal has given ICRA NP Issuer Rating A-minus to the debenture that the bank is about to sell. This indicates that the bank is secure enough to meet its financial obligations on time.

Debenture's disposal and sales manager is Siddhartha Capital.