NCC Bank to issue 3 billion worth bonds from Chaitra 13
Kathmandu, March 18
Nepal Credit and Commerce (NCC) Bank is going to issue bonds worth Rs 3 billion on Chaitra 13. The bank is going to issue bonds called “9.50% NCC Bonds 2086” with a total of 3 million units at a face value of Rs 1,000.
Out of the total units, 1.8 million units will be offered to the individual and the remaining 1.2 million units will be offered to the public. 5 percent of total units 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.
A minimum of 25 units and a maximum of 300,000 units can be applied for in this bond. Purchase application can be submitted from banks and financial institutions participating in C-ASBA service and their branch offices. The issuance of these bonds will take place at the earliest on Chaitra 18 and at the latest on Chaitra 27 after banking hours. Investors will get 9.5 percent interest annually on this ten-year bond. Interest will be paid semi-annually.
This bond of the bank has been given “(ICRA NP) LBBB” grading by ICRA Nepal. An organization that achieves this rating is considered sufficiently secure to meet its financial obligations on time. The issuer and sales manager is Nabil Investment Banking Limited.