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Prime Commercial Bank to Issue NPR 3 Billion Worth of Debentures from Ashar 16

Prime Commercial Bank Limited is set to open the subscription for its 10-year debenture, "6.25% Prime Bank Debenture 2093," starting Ashar 16, offering investors an attractive annual interest rate of 6.25%.

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Prime Commercial Bank to Issue NPR 3 Billion Worth of Debentures from Ashar 16

Prime Commercial Bank Limited has announced that it will open the issue and sale of its long-term debenture, named "6.25% Prime Bank Debenture 2093," from Ashar 16. The bank is floating 3 million units of debentures at a face value of NPR 1,000 per unit, totaling NPR 3 billion. Out of the total issue, 60 percent (1.8 million units worth NPR 1.8 billion) will be allocated through private placement, while the remaining 40 percent (1.2 million units worth NPR 1.2 billion) is earmarked for the general public. Additionally, 5 percent of the public quota (60,000 units) has been reserved for mutual funds. The issue is scheduled to close early on Ashar 19, with a maximum extension option until Ashar 30. Sanima Capital Limited has been appointed as the issue manager.

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