Debentures worth Rs.4.40 Arba by NIC Asia Bank get final approval from SEBON; 17.60 Lakh units to be issued to general public

Securities Exchange Board of Nepal (SEBON) has provided the final approval to the proposed issue of ‘10.25% NIC Asia Debentures 2083/84’ in the latest list of debentures approved.

NIC Asia Bank Limited (NICA) is looking to raise a debt worth Rs.4.40 Arba through issue of 4.40 Million units of debentures at par value of Rs.1000 each. Out of the total issue 1,760,000 units (40% of the issue) are for the general public while remaining 2,640,000 units (60% of the issue) will be privately placed.

The debentures will be providing 10.25% interest p.a. These debentures will mature after a period of 7 years.

Sanima Capital Limited has been appointed as the issue manager for the debenture issue.