Prime Commercial Bank Limited is set to open the issuance and sale of its debenture offering from Asar 16. The bank will issue a 10-year debenture named “6.25% Prime Bank Debenture 2093”, carrying an annual interest rate of 6.25 percent.
Under the offering, the bank plans to issue a total of 30 lakh (3 million) debentures with a face value of NPR 1,000 each, amounting to NPR 3 billion.
Out of the total issuance:
- 18 lakh debentures worth NPR 1.80 billion (60%) will be allocated through private placement.
- The remaining 12 lakh debentures worth NPR 1.20 billion (40%) will be offered to the general public.
- Of the public offering portion, 60,000 debentures (5%) have been reserved for mutual investment funds.
Investors applying for the debenture issue must apply for a minimum of 25 units, while applications can be submitted for up to the entire available quantity.
The issue is scheduled to close on Asar 19 if fully subscribed earlier; otherwise, it will remain open until Asar 30.
Sanima Capital Limited has been appointed as the issue and sales manager for the debenture offering.
Eligible investors can apply through banks and financial institutions participating in the C-ASBA system and approved by the Securities Board of Nepal (SEBON), along with their designated branch offices. Applications can also be submitted online through the Mero Share platform developed by CDS and Clearing Limited using the C-ASBA system.
For the credit assessment of the debenture issuance, Care Ratings Nepal has assigned the bank a CARE-NP Single A Minus Issuer Rating. This rating indicates a high degree of safety regarding the bank’s ability to meet its financial obligations on time.
Interest earned from the debenture investment will be paid after deducting applicable taxes following the completion of the first half-year and second half-year of each fiscal year.
With a fixed annual return and long-term tenure, the debenture offers an alternative investment option for investors seeking relatively stable income compared to equity investments.
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