Prime Commercial Bank Limited (PCBL) has postponed the issuance and issuance of bonds from March 3. Applications for the 8.75 percent Prime Debenture 2085 can now be submitted from March 11.The bank is about to issue 3.5 million bonds worth Rs 3.5 billion with a face value of Rs 1,000 each. Out of the total bonds to be issued, 2.1 million bonds equal to Rs. 2.10 billion will be sold individually. The remaining 1.4 million bonds worth Rs 1.40 billion are to be sold to the public.Applications can be made for a minimum of 25 lots and a maximum of 500,000 lots in the bond.The term of the bond is 8 years. The bank has stated that the payment will be made at the rate of 8.75 percent per annum after the end of the first half of the fiscal year and the second half of the year.Care Rating Nepal has given Care NP Single A minus rating to the bank in the rating given for the issuance of bonds. Institutions that receive that rating are considered to be institutions that meet their financial obligations on time and have minimum credit risk.
RBB Merchant Banking Limited is the manager of issuance and sale of bonds. Investors can apply from the banks and financial institutions participating in the C-ASBA service licensed by the Nepal Securities Board and their designated branch offices.
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