RBB to Open 6% Debenture Issue From Ashoj 29

Rastriya Banijya Bank Limited (RBB) is set to open the issuance and sale of its “6% RBB Debenture 2089” from Ashoj 29, 2083. The debenture has a maturity period of seven years and will provide investors with an annual interest rate of 6%. The bank will issue a total of 3 million debentures with a face value of Rs. 1,000 each, amounting to Rs. 3 billion. Of the total issue, 60% or 1.8 million units worth Rs. 1.8 billion will be distributed through private placement, while the remaining 40% or 1.2 million units worth Rs. 1.2 billion will be offered to the general public. Of the debentures reserved for the general public, 5% or 60,000 units have been allocated to mutual funds. Investors can apply for a minimum of 25 units and up to the entire issue size. The issue will close early on Kartik 10 and, if the issue remains undersubscribed, the closing date may be extended until Kartik 12, 2083. Kumari Capital Limited has been appointed as the issue and sales manager. Investors can apply through C-ASBA member banks and financial institutions and their designated branches, as well as through the Mero Share online platform using the C-ASBA system. For the debenture issue, CARE Ratings Nepal has assigned the bank a CARE-NP A+ Issuer Rating, indicating an adequate degree of safety regarding timely fulfillment of financial obligations. Interest earned from the debenture will be paid after the completion of the first and second half-year periods of each fiscal year, after deduction of applicable taxes.