Kathmandu. Prime Commercial Bank Limited (PCBL) is set to open the issuance of debentures from July 30. The bank is issuing ‘6.25% Prime Bank Debenture 2093’ with a maturity period of 10 years at an interest rate of 6.25 per cent.

The bank is issuing 3 million units of debentures at a face value of Rs 1,000. Out of the total offered shares, 60% i.e. 1.8 billion units of debentures worth Rs 1.80 billion will be set aside for individuals and the remaining 40% i.e. 1.20 billion units will be set aside for the general public. Out of the total offered debentures, 5% i.e. 60,000 units of debentures have been set aside for mutual funds.

Applications can be place for minimum 25 units and maximum of all units of debentures. The earliest date for the issuance will be on July 19 and the latter will be on July 30.

Sanima Capital Limited has been appointed as the issue manager for the IPO issuance. The interested bidders can bid for the C-ASBA service from the banks and financial institutions approved by the Securities Board of Nepal (SEBON), their designated branches and CDS & Clearing Limited.