Two commercial banks of Nepal selling bonds for a period of 15 and 10 years

May Mon 2021 02:37:22

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Two commercial banks of Nepal selling bonds for a period of 15 and 10 years

Kathmandu. Two banks are selling bonds. NMB Bank is selling energy bonds for a period of 15 years from June 26, while Prabhu Bank is going to sell bonds for a period of 10 years from June 30.

NMB Bank is going to open sale of bonds for a period of 15 years from May 25. The bank is set to open the sale of NMB Energy Bonds worth Rs 1.5 billion at an interest rate of 4 percent called 4 percent 2092/93.

Out of the total 1.5 million bonds at the rate of Rs 1,000 per bond, 900,000 will be sold individually and the remaining 600,000 will be sold to the public. Out of the total lots to be sold to the public, the bank has reserved 30,000 lots for collective investment funds at the rate of 5 percent. Now, the remaining 570,000 bonds will be issued to the public.

Applications can only be made on public issue bonds. There is a provision to apply for a minimum of 25 lots and a maximum of the entire lot when applying.

Similarly, Prabhu Bank is going to issue 1,677,500 shares to the public from May 31. Out of the 1.6 million shares allotted by the bank to the public, 80,000 shares at the rate of 5 percent have been allocated for the collective investment fund.

The bank is about to sell a total of 4 million bonds with an interest rate of 8.5 percent for a period of 10 years. Out of the total, 2.4 million will be sold by the bank to various individuals and organizations. This bond of the bank has been given ICRA Nepal IR Triple B Plus rating by ICRA Nepal.