Nabil Bank Unveils Plans for Perpetual Preference Shares and 8% Nabil Debenture 2089, Pending Regulatory Approval

Nabil Bank Limited (NABIL) has decided to introduce perpetual preference shares and issue 8% Nabil Debenture 2089, after obtaining regulatory approvals.

According to the bank's 653rd meeting convened at the central office on Thursday, the Board of Directors made significant decisions to issue perpetual non-cumulative preference shares amounting to 50 million units. These shares, having a face value of NPR 100 per unit, will aggregate NPR 5 billion. Investors in these preference shares will benefit from an 8% dividend rate, which will be distributed annually.

It's noteworthy that these preference shares do not include a redemption feature. The issuance of these shares will be conducted exclusively through private placement.

Additionally, Nabil Bank Limited has resolved to launch 8% Nabil Debenture 2089. These debentures will mature over 8 years.

These pivotal decisions, meticulously deliberated upon, were arrived at in compliance with prevailing regulatory requisites. The further process, including the issuance of these financial instruments, will be initiated only after receiving approvals from Nepal Rastra Bank and related regulatory bodies.