Kathmandu. Prime Commercial Bank Limited has extended the deadline to apply for debentures worth Rs 3 billion. The bank has opened the issue of 6.25% Prime Bank Debenture 2093 from July 30.
According to the bank, the issue will be stopped by publishing a notice before the deadline if the application is more than the demand. The bank is issuing 30 lakh units of debentures at a face value of Rs 1,000 each.
Out of the total offered i.e., 1.8 million units i.e. Rs 1.80 billion have been set aside for the private sector while the remaining 1.2 million units i.e. Rs 1.20 billion have been set aside for the general public. Out of the total offered debentures, 60,000 units have been reserved for the mutual funds.
The debenture has a maturity rate of 6.25 per cent per annum. Applications can be place for minimum 25 units and maximum of all units of shares.
Sanima Capital Limited has been appointed as the issue manager for the issue. The interested bidders can apply online from the banks and financial institutions participating in the C-ASBA service approved by the Securities Board of Nepal (SEBON) and their designated branches or through CDS & Clearing Limited’s ‘Mero Share’ system.
The interest earned from the debentures will be paid to the investors after the expiry of the first and second half of each fiscal year.
