Kathmandu. ICFC Finance Company Limited (ICFC) is issuing debentures with a maturity period of 7 years from today. The company is issuing “8% ICFC Finance Limited Debenture 2089” at an interest rate of 8% per annum.

A total of 5,00,000 units of debentures will be issued for a total of Rs 50 crore. The face value of the company has been fixed at Rs 1,000 per share. Out of the offered, 3 Lakh units worth Rs 300 Crore have been set aside for the individual and the remaining 2 Lakh units have been set aside for the general public. Out of the total offered shares to the general public, 5% i.e. 10,000 units have been reserved for the mutual funds.

Applications can be place for minimum 25 units and maximum 2,00,000,000 units. The issue will close on March 28 and will remain open till March 9 if demand is not sufficient. Kumari Capital Limited has been appointed as the issue manager for the debenture issuance. The interested investors can collect ASBA application form from the banks and financial institutions approved by the Securities Board of Nepal (SEBON) and their designated branches.

CARE Ratings Nepal has assigned “Care NP Triple B Minus” Issue Rating to the company, indicating it has moderate risk on its ability to meet its financial obligations in a timely manner.

According to the company, the interest amount earned from the bonds will be paid to the investors after deducting tax at the expiry of the first and second half of each fiscal year.