Want to earn 10% risk free return annually? Prabhu Bank issuing "10% Prabhu Bank Debenture 2084" from Shrawan 19
Sun, Jul 26, 2020 7:48 AM on Bonds & Debentures, IPO/FPO News, Latest,
Prabhu Bank Limited is issuing "10% Prabhu Bank Debenture 2084" from Shrawan 19 to Shrawan 23, 2077. In the case of under-subscription, the issue will be extended to Bhadra 1, 2077.
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.
"10% Prabhu Bank Debenture, 2084" rated BBB by CARE Ratings Nepal
