2.99% interest rate fixed for ‘Development Bond 2082’ worth Rs 10 billion; oversubscribed by 5 times
Sun, Jun 28, 2015 12:00 AM on Others, Treasury Bill,
ShareSansar June 28:
Rs. 10 billion “Development Bond 2082”which was issued by Nepal Rastra Bank on Ashad 10 with a maturity period of 10 years have received over whelming response from the different BFI’s, due to the surplus liquidity of Rs 114 billion in the market. In total NRB has received bid applications worth Rs 49 billion for the same. It was oversubscribed by almost 5 times than the actual requirement.
An interest rate of 2.99% has been fixed for the “Development Bond 2082” which is less than the interest rates of three development bonds worth Rs 15 billion, issued in a series.
Altogether 80 percent of the bond amount was allotted for competitive bidding and the remaining 20 percent was to be sold without competition.
Classes A, B and C BFIs were not allowed to apply for the bond in non-competitive bidding.
The amount submitted by the non-allottees will be refunded without any interest within seven days after the allotment.
The secondary trading of the bond will be done through Nepal Stock Exchange Limited (NEPSE).
