"10.25% Prabhu Bank Debenture 2086" to open from Kartik 21, 2076; Bank to raise Rs 1 arba

Prabhu Bank Limited (PRVU) has published an offer letter to issue 10,00,000 units "10.25% Prabhu Bank Debenture 2086" to the general public from Kartik 21 to 25, 2076. In case of under-subscription, the issue will be extended till Mangsir 20, 2076.

The debenture will be offering 10.25% interest rate for a period of 10 years. The debenture is available at Rs 1000 per unit. Interested individuals can apply for a minimum of 25 units or maximum of 4 lakh units.

Sunrise Capital is the issue manager of the debenture issuance.

The bank has separated 6 lakh units for private placements and the remaining 4 lakh units is for the general public. Similarly, from 4 lakh units, 5% or 20,000 units has been separated for Mutual Funds.

ICRA Nepal Limited has assigned [ICRANP] LBBB (Pronounced as ICRA NP L Triple B) Rating to the Rs. 1 arba Subordinated Debenture Programme of Prabhu Bank Limited. Similarly, ICRA Nepal Limited has assigned issuer rating at [ICRANP-IR] BBB (Pronounced as ICRA NP IR Triple B) to Prabhu Bank Limited. Issuers with this rating are considered to have a moderate degree of safety regarding timely servicing of financial obligations. Such issuers carry moderate credit risk.

Offer Letter