NCC Bank opened sale of bond from today; How much is the interest rate?
Kathmandu, March 26
Nepal Credit and Commerce (NCC) Bank has opened sale of bonds from Friday i.e. today. The bank has opened sales of 30 lakh units.
Out of this, 18 lakh units of bonds will be sold individually. The collective investment fund has been allocated 5 percent i.e. 60,000 units. The general public will be able to apply for the remaining 11 lakh 40 thousand units.
The interest rate on this bond will be 9.50 percent per annum. The bank has opened sale of bonds worth Rs 40 arba at the rate of Rs 1,000 per unit. Applications can be submitted from a minimum of 25 units to a maximum of 300,000 units. The bank has issued 10 year bonds in the name of “9.50% NCC Debenture 2086”. Nabil Investment Banking has acted as the sales manager for the bank’s bonds.
The rating agency ICRA Nepal has rated the bond as ‘ICRA NPL Triple B’ with low credit risk. Applications for this bond can be submitted till Chaitra 18. If the required quantity is not sold within that period, it can be filled up till Chaitra 27. Applications can be submitted from banks and financial institutions participating in C-ASBA and their branch offices.