Nepal Rastra Bank Issued Development Debenture 2083
Nepal Rastra Bank (NRB) is set to sell development debentures worth Rs 15 billion from Thursday (Jestha 13, 2078). The central bank is about to issue a development debenture to the government to raise the required funds.
The development debenture 2083 'D' to be issued on Thursday has a period of 5 years. Banks and financial institutions, non-bank financial institutions, insurance companies, organized organizations, and Nepali citizens will have to apply to the National Debt Management Department of Nepal Rastra Bank for the purchase of the debenture to be sold through the bidding process.
Interested buyers can participate in a competitive and non-competitive manner. Competitive buyers have been allotted 85 percent of the disbursed amount i.e. Rs 12.75 billion and non-competitors have been allotted 15 percent or Rs 2.25 billion.
Interested investors will have to submit bids through online bidding software by 2 pm on May 25 ( 2078 Jestha 11, 2 PM) In debenture, a minimum of Rs. 50,000 and a maximum of Rs. 50,000 can be demanded without increasing the limit. The bond will be issued on the 13th of Jestha and the second payment will be made on the 13th of Jestha 2083 BS.
The interest rate on development debenture will be determined through bidding and the interest will be paid half-yearly, according to NRB. It is also possible to take loans from banks and financial institutions and buy and sell through the secondary market by pledging debenture.
