SEBON adds ‘12% ICFC Finance Debentures 2083’ to its pipeline; debentures worth Rs.20 Crore to be issued

Securities Board of Nepal (SEBON) has added "12% ICFC Finance Debenture 2083" to its pipeline for review and approval.

ICFC Finance is issuing a total of 2 lakh units at Rs.1000 per unit. The total value of the issue is Rs.20 Crore and will be providing 12% interest rate paid semi annually. The debenture will mature in 7 years i.e. in 2083.

Out of the total issue, 80,000 units (40% of the issue) will be issued to the general public while the remaining 1.20 Lakh units (60% of the issue) will be privately placed.

Global IME Capital Limited has been appointed as the issue manager.

CARE Ratings Nepal has assigned CARE-NP BBB- [Triple B Minus] to the ‘12% ICFC Finance Limited Debentures 2083’. Instruments with this rating are considered to have moderate degree of safety regarding timely servicing of financial obligations in Nepal. Such instruments carry moderate credit risk.