Debenture of Rastriya Banijya Bank Limited, which earns 8.5 percent interest annually, can be applied from today (June 8). RBB has opened the issue and sale of '8.50% RBBL Debenture, 2083'. The term of the bond will be 6 years.
RBB has issued 2.5 million debentures with a face value of Rs 1,000 per share, equivalent to Rs 2.5 billion. Out of this, 1 million shares equal to Rs 1 billion will be distributed to the general public while the remaining 1.5 million shares equal to Rs 1.5 billion will be distributed individually, the bank said.
Applications for the purchase of the Debenture should be submitted as soon as possible by June 11. If the application is not received by that time, the eviction period will be extended till June 21. Investors will be able to apply for a minimum of 25 units and a maximum of 250,000 units.
RBBL's Debenture Issuance and Sales Manager is NIBL Ace Capital Limited. Investors can apply for the Debenture Purchase from C-ASBA Member Banks and Financial Institutions and their branch offices.
CARE Rating Nepal has given RBB a Care NP Single A Plus Issuer rating in its credit rating for Debenture Issuance. This indicates adequate security in order to meet financial obligations on time.
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