Deadline Extended for "10% KBL Debenture 2090"; Issue to Close on Kartik 16

Kumari Bank Limited (KBL) has extended the deadline for its issue of 50,00,000 units of "10% KBL Debenture 2090" to the general public and institutions till 16th Kartik, 2080.

The debenture with a maturity period of 10 years and a coupon rate of 10% was open for application from 2nd Kartik, 2080.

50 lakh units are being issued at a par value of Rs. 1000 per unit. Out of the total units being issued 60% i.e. 30 lakh units of the total issue will be subscribed via private placement while the remaining 20 lakh units worth Rs. 2 Arba is open for the public issue, 5% i.e. 1,00,000 is also allocated for mutual funds.

Nabil Investment Banking Limited is the issue manager. Investors can apply for a minimum of 25 units and a maximum of 5,00,000 units.

ICRA Nepal has reaffirmed the issuer rating of [ICRANP-IR] BBB+ (pronounced ICRA NP issuer rating triple B plus) to The bank. Issuers with this rating are considered to have a moderate degree of safety regarding the timely servicing of financial obligations.

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