SEBON approves "10.25% Kumari Bank Debenture 2086"; Bank to float debentures worth Rs 3 arba

Securities Board of Nepal (SEBON) has approved Kumari Bank's debenture that was in its pipeline. The debenture will be offering 10.25% interest and will mature in 10 years.

"10.25% Kumari Bank Debenture 2086" will be issuing a total of 30 lakh units worth Rs 3 arba. From the total 12 lakh units has been separated for the General public while 18 lakh units have been separated for private placement.

Nepal SBI Merchant Banking Ltd. has been appointed as the issue manager.

ICRA Nepal has assigned an issuer rating of [ICRANP-IR] BBB+ (pronounced ICRA NP issuer rating triple B plus) to Kumari Bank Limited (KBL). The rating is considered to have a moderate degree of safety, regarding the timely servicing of financial obligations with the rated entity carrying moderate credit risk. It has also assigned [ICRANP] LBBB+ (pronounced ICRA NP L triple B plus) to the proposed subordinated debenture program of KBL. Instruments with this rating are considered to have a moderate degree of safety, regarding the timely servicing of financial obligations. Such instruments carry moderate credit risk.