Machhapuchchhre Bank gets its “10.25% Machhapuchhre Bank Debenture 2085” oversubscribed!

While most of the banks are facing tough competition to sell their debentures in the market lately, Machhapuchchhre Bank Limited (MBL) becomes the first bank to sell its debentures completely. In fact, the bank’s debenture got oversubscribed from the applicants.

Machhapuchchhre Bank Limited (MBL) closed the issue of “10.25% Machhapuchhre Bank Debenture 2085” today (Bhadra 3, 2076). This debenture issue was open since Shrawan 6, 2076.

MBL issued 30 lakh units debenture at par value of Rs.1000 each to raise debt worth Rs.3 Arba with the maturity of 10 years. Out of the total issue 1,200,000 units (40% of the issue) are for the general public while remaining 1,800,000 units (60% of the issue) will be privately placed.

ICRA Nepal Limited assigned ICRANP-IR A- Rating to the Rs. 3 arba Debenture Programme of Machhapuchchhre Bank Limited. Instruments with this rating are considered to have good degree of safety regarding timely servicing of financial obligations. Such instruments carry no credit risk.

The bank currently has 136 branches, 121 branchless banking unit and 154 ATM terminal in operation all over the nation.