11% debentures of NIC Asia collects Rs 12.87 crore till the 4th day; only 35.16% of the total issue subscribed

The 11% debentures of NIC Asia collected Rs 12.87 crore from more than 1200 applicants till the 4^th day of its issuance. Applications for only 35.16% of the total issue has been received.

NIC Asia Bank is issuing 3,66,000 unit '11% NIC Asia Debentures 2082/83' for the general public at a par value of Rs 1,000 per unit from Bhadra 21, 2075.

The interest for the debentures will be paid semi-annually. The debentures will be matured after 7 years.

Nabil Investment Banking has been appointed as the issue manager for the debenture issuance.

Interested applicants can place applications for minimum 25 units of the debentures while application can be placed for maximum 1,83,000 units. The issue will close on Ashoj 19, 2075.

After the issuance of the debentures, the total debentures of the bank will reach Rs 5.33 arba.

Care Ratings Nepal has assigned CARE-NP A rating to the debentures wich indicates Low Credit Risk.

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