Kathmandu. Nepal Infrastructure Bank Limited (NIFRA) has extended the deadline to apply for ‘Nifra Green Energy Bond 2088/89’ with an interest rate of 6 percent per annum.
Earlier, the bank had said that the issue would be closed at the earliest on June 15. However, as the Government of Nepal has declared a public holiday in the Valley on May 17, the closure period has been extended by one day to June 15.
The bank had received permission from the Securities Board of Nepal to issue 5 million units of debentures at a face value of Rs 1,000 per share.
Of these, the bank will sell 3 million units individually, out of the remaining 2 million units, 100,000 units have been reserved for the mutual fund and the remaining 1.9 million units will be issued to the general public.
At the time of applying, you can ask for a minimum of 25 units and a maximum of one million units. NIMB Ace Capital Limited will act as the issue and sales manager of the securities.
ICRA Nepal has awarded iCRA NP issuer rating triple B to the bank in the credit rating for the issue of debentures. This indicates a moderate degree of security in terms of meeting financial obligations on time.
The interest earned on this bond will be paid by deducting tax after the end of the first half of each financial year and the second half year.
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