Nabil Bank to Issue '8% Nabil Debenture 2089'

Nabil Bank Limited has engaged Nepal SBI Merchant Banking Limited as the issue and sales manager for its "8% Nabil Debenture 2089" debenture issue.

The agreement was signed by Nabil Bank's CEO, Gyanendra Prasad Dhungana, and Nepal SBI's Managing Director and CEO, Lekhanath Pokhrel.

The debenture has an 8-year term with an annual interest rate of 8% and a face value of 1,000 rupees per debenture.

Nabil Bank Limited will be issuing 30,00,000 units of debenture at Rs 1,000 per unit. From the total 12 lakh units worth Rs. 1 Arba 20 crore are for the general public and the remaining 18 lakh units worth Rs. 1 Arba 80 crore are for private placement.

According to the bank, of the 12 lakh units of shares designated for the general public, 5 percent, or 60,000 shares, have been set aside for mutual funds.