Debenture with highest 10.50% interest to hit the investment floor soon! Prime Bank to issue Rs 3.50 arba worth Debenture with RBB Merchant Banking as issue manager

Prime Commercial Bank has appointed RBB Merchant Banking as the issue manager to float its Rs 3.50 arba worth debenture into the market.

The bank will be issuing 35 lakh unit debentures having maturity period of 8 years and with interest yield of 10.50% which is one of the highest among the present day offerings. The bank will issue 21 lakh unit debentures through the private placement method and the remaining for the general investors, as per the media statement.

The agreement regarding the same was signed between CEO of Prime Bank Mr. Narayan Das Manandhar and CEO at RBB Merchant Banking Mr. Badri Prasad Pyakurel on Magh 22, 2076.

Prime Commercial Bank has a paid up capital of Rs 9.68 arba, reserve of Rs 3.19 arba, EPS of Rs 26.86, reserved revenue of Rs 2.46 arba.