"10% Nabil Bank Debenture 2082" added to SEBON pipeline; Debentures worth Rs 2 arba to be issued

Securities Board of Nepal (SEBON) has added "10% Nabil Bank Debenture 2082" to its pipeline for review and approval.

Nabil Bank is issuing a total of 20 lakh units at Rs 1000 per unit. The total value of the issue is Rs 2 arba and will be providing 10% interest rate. The debenture will mature in 7 year i.e. in 2082.

Laxmi Capital Market has been appointed as the issue manager.

ICRA Nepal has assigned [ICRANP] LAA- (pronounced ICRA NP L double A minus) to the proposed subordinated debenture programme of NPR 2,000 million of Nabil Bank Limited. The subordinated debenture rating of AA- is one notch lower than the rating of AA. Instruments with AA- rating are considered to have a high degree of safety regarding the timely servicing of financial obligations. Such instruments carry very low credit risk. Similarly, ICRA Nepal has also reaffirmed the rating of [ICRANP-IR] AA- (pronounced ICRA NP Issuer Rating Double A minus) to Nabil Bank Limited (Nabil). The entities with [ICRANP-IR] AA- rating are considered to have high degree of safety regarding timely servicing of financial obligations. Such issuers carry very low credit risk. The rating is only an opinion on the general creditworthiness of the rated entity and not specific to any particular debt instrument.