NIC Asia Bank to float bonds worth Rs3b
Nov 13, 2017-NIC Asia Bank will soon float bonds worth Rs3 billion, which will generate yields of 9 percent per annum.
The bank has signed an issue management agreement with Nabil Investment Banking Ltd to float the credit instruments.
The agreement was signed between NIC Asia Bank CEO Laxman Risal and Pravin Raman Parajuli, CEO of Nabil Investment Banking Ltd. Each bond will be valued at Rs1,000.
The interest on the bond will be paid twice a year, according to a statement issued by the bank. “A total of 3 million units of bonds will be issued of which 80 percent will be offered through private placement,” says the statement.
“The rest of the bonds will be offered to the general public after obtaining approval from the Securities Board of Nepal, the securities market regulator.”
Published: 13-11-2017 09:01