Kathmandu. The Public Debt Management Office is going to sell ‘Development Bonds-2085’ worth Rs 10 billion today.

The three-year bond is being sold through the bidding process. The bond will be traded in the second market on the Nepal Stock Exchange.

Loans can also be taken or given by pledging bonds. Bidding for the bonds will take place from 10:00 am to 3:00 pm today. According to the office, the interest will be paid half-yearly and the principal payment of the bonds, which will also attract income tax, will be made on July 15, 2019.

Interested buyers can participate as competitors or non-competitors. Competitive or non-competitive bidders have been allocated 85 per cent and 15 per cent i.e. Rs 8.5 billion and Rs 1.5 billion respectively.

If the non-competitive bidder does not receive the full bid for the amount allocated, the remaining amount will be sold to the competing bidder. If the non-competitive bidder receives a bid of more than the allocated amount, the amount of the bond will be distributed proportionately to the bidder.

The government has set a target to raise internal debt of Rs 362 billion in the current fiscal year.