Global IME to issue bonds of 3 billion from Chaitra 1

Kathmandu, March 7

Global IME Bank is going to issue 8.5 percent Global IME Bank Debenture 2086/87 worth Rs 3 billion on Chaitra 1.

The bank is to issue 3 million units of bonds at a face value of Rs 1,000. Out of the total units, 1.8 million units will be removed from the individual and the remaining 1.2 million units will be removed from the public. Out of the total 1.2 million units to be issued to the public, 5 percent i.e. 60,000 units have been set aside for collective investment funds, while the general public will be able to apply for purchase in the remaining 1.14 million units.

Investors will be able to apply for a minimum of 25 units and a maximum of 1 million units. Investors will be able to apply for a license from the Nepal Securities Board from the participating banks and financial institutions and their designated branches.

The issuance of these bonds will take place as soon as possible on Chaitra 4 and as late as Chaitra 16 after banking hours.

The Securities and Exchange Board of Nepal has given permission for the issuance of this bond by Global IME Bank on Falgun 16. Investors will receive 8.5 percent annual interest on these bonds. Interest will be paid semi-annually.

The issue and sale manager is Century Capital Markets Limited.