Prime Commercial Bank’s Rs 3 Billion Debenture Issue Closes Today

Today marks the final day for investors to apply for Prime Commercial Bank Limited (PCBL)'s 6.25% Prime Bank Debenture 2093, which was opened for public subscription on June 30 (Asar 16). The bank is issuing 3 million debenture units with a face value of Rs 1,000 each, raising a total of Rs 3 billion. Of the total issuance, 1.8 million units (60%) worth Rs 1.80 billion have been allocated through private placement, while the remaining 1.2 million units (40%) valued at Rs 1.20 billion are available to the general public. Out of the public allocation, 60,000 units (5%) have been reserved for mutual funds. Interested investors can apply for a minimum of 25 units and up to the entire public allocation through the C-ASBA system via authorized banks and financial institutions or online through the Mero Share platform. Sanima Capital Limited is managing the issuance. The debenture has received a CARE-NP Single A Minus Issuer Rating from CARE Ratings Nepal, indicating an adequate degree of safety regarding the timely servicing of financial obligations. Interest earned on the debenture will be paid semi-annually after applicable tax deductions.