Prabhu Bank is closing the issue of "10% Prabhu Bank Debenture 2084" from today
Fri, Aug 7, 2020 5:27 AM on Bonds & Debentures, Latest,
Prabhu Bank Limited is closing the issue of "10% Prabhu Bank Debenture 2084" from today i.e. Shrawan 23, 2077. This debenture issue was opened since Shrawan 19. The interested investors can apply till banking hour today.
The bank is issuing a total of 20 Lakh units of debentures at par value of Rs.1000 per unit. The total value of the issue is Rs.2 Arba and will be providing a 10% interest rate. The debenture will mature in 8 years i.e. in 2084.
Out of the total issue, 8 Lakh units (40% of the issue) will be issued to the general public while the remaining 12 Lakh units (60% of the issue) will be issued to the different institutions through private placement.
Nabil Investment Banking Limited has been appointed as the issue manager.
The interested applicants can apply for a minimum of 25 units and a maximum of 3,00,000 units.
Since most of the bank currently provides 8% interest rate (maximum) on fixed deposits, this issue can be most attractive for risk-averse investors to gain 10% risk-free interest rate.
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"10% Prabhu Bank Debenture, 2084" rated BBB by CARE Ratings Nepal
