ICFC Finance to raise debt worth Rs.20 Crore through issued of 12% debentures; Care Ratings grades the issue

Nepal Stock Exchange Limited (NEPSE) has published a notice regarding the credit rating of proposed debentures of ICFC Finance Limited (ICFC).

As per the notice, CARE Ratings Nepal has assigned CARE-NP BBB- [Triple B Minus] to the ‘12% ICFC Finance Limited Debentures 2083’. Instruments with this rating are considered to have moderate degree of safety regarding timely servicing of financial obligations in Nepal. Such instruments carry moderate credit risk.

ICFC is looking to raise debt worth Rs.20 Crore through issue of 200,000 units of debentures at par value of Rs.1000 each. The debentures will yield an interest of 12% p.a. paid semiannually. These instruments will mature after a period of seven years.