Kathmandu. Prime Commercial Bank has started the process of issuing debentures. The bank is in the process of issuing debentures worth Rs 3 billion.
The bank has applied to the Securities Board of Nepal (SEBON) seeking permission to issue ‘Prime Commercial Bank Debenture 2093’.
The bank will issue a total of 3 million units of debentures at a face value of Rs 1,000 denomination. Out of the total offered units, the bank will issue 18 lakh units to individuals and the remaining 12 lakh units to the general public.
The debenture has a maturity period of 10 years and the interest rate will be 6.25 per cent per annum.
Similarly, Sanima Capital Limited has been appointed as the issue manager for the IPO issuance.
