Prime Bank opened 3.5 billion bonds from today

Kathmandu, March 12

Prime Commercial Bank Ltd. has opened Rs 3.5 billion bonds from today i.e Falgun 28. The bank has issued 35 lakh units of “8.75% Prime Debenture 2085” bonds with a total face value of Rs 1,000. Out of the total units, 21 lakh units have been evacuated from the private sector and the remaining 14 lakh units have been evacuated from the public.

Out of total units, 5 percent i.e. 70,000 units have been allocated to the collective investment fund, while the general public will be able to apply for the remaining 13 lakh units. Investors will be able to apply for a minimum of 25 units and a maximum of 500,000 units in this bond. Investors can apply for the C-ASBA service licensed by the Securities Board of Nepal from participating banks and financial institutions or their designated branch offices. Similarly, applications can be submitted from the registered central office of RBB Merchant Banking in Teku, Kathmandu and Prime Commercial Bank Limited in Kamalpokhari.

Investors will get 8.75 percent annual interest on this bond. Interest will be paid semi-annually. The Securities Bond of Nepal had given permission to issue this bond of Prime Bank on Poush 10.

The issuer and sales manager is RBB Merchant Banking Limited. It has been said that the issuance of bonds will be stopped on Chaitra 3 at the earliest and on Chaitra 13 at the latest.