Kathmandu. Nepal SBI Bank is going to issue ‘7 percent Nepal SBI Bank Bond 2090’ at an interest rate of 7 percent per annum for a period of 10 years.

The bank is issuing 3 million units of debentures worth Rs 3 billion at a face value of Rs 1,000 each. Out of this, 60 percent i.e. 1.8 million units of debentures worth Rs 1.8 0 billion will be distributed individually and the remaining 40 percent i.e. 1.2 million units worth Rs 1.2 billion will be allotted to the general public. 5% i.e. 60,000 units of debentures have been set aside for mutual funds.

Investors will have to apply for a minimum of 25 units of shares and maximum of all units. The eviction will be closed at the earliest on July 15 and the late one will be on July 15.

Nabil Investment Banking Limited is the issue manager of the bank. Investors can apply online using the asba service approved by the Securities Board of Nepal and the banks and financial institutions and their designated branch offices and the software ‘Mero Share’ created by CDS and Clearing Limited online.

ICRA Nepal has awarded iCRA NP issuer rating double A to the bank in the credit rating for the issue. This indicates that there is a high degree of security in meeting financial obligations on time. The interest earned on the bond will be paid after deducting taxes after the end of the first financial year and the second half of each financial year.