"8.5% NIC Asia Debenture 2088" Opening From Ashar 06
Fri, Jun 11, 2021 10:24 AM on Bonds & Debentures, Latest,
NIC Asia Bank Limited has published an offer letter to issue "8.5% NIC Asia Debenture 2088." The debenture issue will open on 6th Ashar and conclude on 9th Ashar, 2078. If not subscribed by the early closing date, the deadline can be extended till Ashar 20.
30,00,000 units will be issued at a par value of Rs.1000 per unit. 12 lakh units will be issued to the general public, including the 5% quota for mutual funds. Meanwhile, 18 lakh units will be subscribed via private placement. Investors can apply for a minimum of 25 units to a maximum of 15 lakh units.
8.5% NIC Asia Debenture 2088 will mature in the year 2088. As evident in its name, the debenture will generate an 8.5% annual return to unitholders till the maturity date. Care Ratings has given the debenture a grade of Single-A issuer rating, denoting low credit risk.
