Prime Commercial Bank Limited has extended the application deadline for its "6.25% Prime Bank Debenture 2093", allowing investors to apply until Ashadh 30, 2083. The debenture issue, which opened on Ashadh 16, was originally scheduled to close earlier. However, the bank stated that if the issue becomes oversubscribed before the new deadline, it reserves the right to close the subscription period early by issuing a public notice.
The bank is issuing 30 lakh debenture units with a face value of Rs. 1,000 each, raising a total of Rs. 3 billion. Out of the total issue, 18 lakh units (60%), worth Rs. 1.80 billion, have been allocated through private placement, while the remaining 12 lakh units (40%), worth Rs. 1.20 billion, are available to the general public. Of the public portion, 60,000 units (5%) have been reserved for mutual funds.
The debenture carries a 10-year maturity period and offers an annual interest rate of 6.25%. Investors are required to apply for a minimum of 25 units, while there is no upper limit other than the total number of units available. Sanima Capital Limited has been appointed as the issue and sales manager for the offering.
Eligible investors can submit applications through C-ASBA member banks and financial institutions approved by the Securities Board of Nepal (SEBON) or online via the Mero Share platform operated by CDS and Clearing Limited (CDSC). The issue has received a CARE-NP A- (Single A Minus) Issuer Rating from CARE Ratings Nepal, indicating that the bank has an adequate capacity to meet its financial obligations on time. Interest payments will be made semi-annually after applicable taxes are deducted.
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