NIC Asia Bank invites applications for “10.25% debenture 2083/84’; Issue open from Shrawan 6

NIC Asia Bank Limited (NICA) is set to open the issue of its “NIC Asia Debenture 2083/84” from Shrawan 6, 2076 to Shrawan 9, 2076.

NIC Asia is issuing 44 lakh units debenture at par value of Rs.1000 each to raise debt worth Rs.4.4 Arba with the maturity of 10 years. Out of the total issue 17,60,000 units (40% of the issue) are for the general public while remaining 26,40,000 units (60% of the issue) will be privately placed.

The debenture will be providing 10.25% return on the investment which will be paid semi-annually and this debenture matures in 10 years.

CRNL has assigned “CARE-NP A” rating to the new proposed Subordinated Debenture “NIC ASIA Debenture 2083/84” issue of NIC Asia Bank Limited (NIC Asia) worth Rs 4.4 arba. The instruments with this rating are considered to have adequate degree of safety regarding timely servicing of financial obligations, in Nepal. Such instruments carry low credit risk.

The paid-up capital of NICA stands at Rs 8.83 arba and reserve and surplus stands at Rs 5.5 arba as of third quarter of fiscal year 2075/76. It has recorded the profit of Rs 2.73 arba upto the third quarter of 2075/76.

The bank currently has 283 branches, 41 extension counters and 289 ATM terminals in operation all over the nation.