Rastriya Banijya Bank Limited (RBB) is going to issue debentures at an annual interest rate of 8.5 percent. The RBB is going to open the issue and sale of '8.50 percent RBBL debentures, 2083' from June 8 (Jestha 25, 2078) The term of the debenture will be 6 years.
The bank is about to issue 2.5 million units of debentures with a face value of Rs 1,000 per share, equivalent to Rs 2.5 billion. Out of this, 1 million units of debentures worth Rs 1 billion will be sold to the public while the remaining 1.5 million units of debentures worth Rs 1.5 billion will be sold individually, the bank said.
The application for the purchase of the debenture should be submitted by June 11 (Jestha 28, 2078) at the earliest. If the application is not received by that time, the issue period will be extended till June 22 (Ashad 8, 2078). Investors will be able to apply for a minimum of 25 units and a maximum of 250,000 units.
RBB's debenture issuance and sales manager is NIBL Ace Capital Limited. Investors can apply for the debenture purchase from C-ASBA member banks and financial institutions and their branch offices.
CARE Rating Nepal has given CARE NP Single A Plus Issuer rating to the bank in the credit rating for debenture issuance. This indicates adequate security in order to meet financial obligations on time.
