Prime Commercial Bank Limited has extended the deadline for investing in its 6.25 percent debenture till Ashar 30.
Prime Commercial Bank Limited opened its debenture named ‘6.25 percent Prime Bank Debenture 2093’ from Ashar 16. The bank has now decided to extend the application period till Ashar 30. If the bank receives more applications than it needs before this new date, it will publish a notice and close the issue early.
Details of the Debenture
The bank is offering a total of 30 lakh units of debenture at a face value of Rs. 1,000 per unit. This makes the total value of the issue Rs. 3 arba. Out of this total amount, 18 lakh units worth Rs. 1.80 arba (which is 60 percent) will be sold through private placement. The remaining 12 lakh units worth Rs. 1.20 arba (which is 40 percent) are for the general public. From the public portion, 5 percent which is 60 thousand units are secured for mutual funds.
How to Apply and Other Info
If you want to buy, you can apply for minimum of 25 units. There is no hard limit for maximum, so investors can apply up to the total available units. Sanima Capital Limited is the issue manager for this debenture. You can easily apply through branches of C-ASBA member banks and financial institutions authorized by SEBON. Also, there is option to apply online using Mero Share system.
CARE Ratings Nepal has given CARE-NP A- (Issuer Rating) to Prime Commercial Bank. This rating shows that the bank is in good position to meet its financial duties on time. The bank announced to distributing 6.25 percent interest per year. This interest will be paid after the end of first and second half of each fiscal year after deducting taxes.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
