Debenture Issue of NIC Asia Bank and Shangri-la Development Bank Closing Today
Sun, Jul 4, 2021 9:51 AM on Latest, Bonds & Debentures,
NIC Asia Bank Limited is closing the issue of "8.5% NIC Asia Debenture 2088" today. The issue opened from 6th Ashar, 2078, and was supposed to close on Ashar 09. However, since the issue was not fully subscribed by the early closing date, the deadline was extended till today, i.e. Ashar 20.
30,00,000 units are issued at a par value of Rs.1000 per unit. 12 lakh units have been issued for the general public, including the 2,500 units 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.
Shangri-la Development Bank Limited is closing the public issue of "9% Shangri-la Development Bank Debenture 2087" today. The issue opened on 6th Ashar,2078, and was supposed to close on Ashar 09. Since the issue was not fully subscribed by the early closing date, the deadline was extended till today, i.e. Ashar 20.
7,50,000 units are issued at a par value of Rs.1000 per unit. 40% of the units have been issued for the general public, including the quota for mutual funds. Meanwhile, 60% of the units will be subscribed via private placement.
Investors can apply for a minimum of 25 units to a maximum of 3 lakh units. The debenture will mature in the year 2087 and yield an annual return of 9% to unitholders till the maturity year.
