Prime Commercial Bank has completed the allotment of its 10-year debenture named “6.5% Prime Bank Debenture, 2093” to the eligible investors.
Prime Commercial Bank Limited has successfully finished the allotment of its “6.5% Prime Bank Debenture, 2093” on Asar 29. This debenture has a maturity period of 10 years and offers an annual interest rate of 6.5 percent. The bank opened the sale of this debenture from Asar 16 to Asar 23 and allotted it to the investors who has applied properly within the given time.
The bank had received permission from the Securities Board of Nepal (SEBON) to sell a total of 30 lakh units of this debenture. Out of the total units, 18 lakh units were sold to various institutions through private placement, while the remaining 12 lakh units were set aside for the general public.
From the 12 lakh units separated for the general public, 60 thousand units were reserved for mutual funds. The face value of this debenture is Rs. 1,000 per unit. Sanima Capital Limited worked as the issue and sales manager for this debenture issue.
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