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NIC Asia Bank Signs Issue Management Pact with Nabil Investment

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NIC Asia Bank Signs Issue Management Pact with Nabil Investment
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June 8: NIC Asia Bank has signed Issue Management Agreement with Nabil Investment Banking Ltd for the issuance of '11 percent NICASIA Bond 2082/83' amounting to Rs 1.83 billion with a coupon rate of 11 percent per annum payable on semi-annual basis.

The bank said in a statement that 1,830,000 units of bonds with a face value of Rs 1,000 per unit shall be issued, of which 80 percent of the issue will be offered through private placement and the rest will be offered to the general public after obtaining approval from Securities Board of Nepal (SEBON).

Roshan Kumar Neupane, acting CEO of NIC Asia Bank, and Sabir Bade Shrestha, CEO of Nabil Investment Banking Ltd signed the agreement on behalf of their respective organisations on Wednesday, June 7.

Bank said it has issued three million units of '9 percent NIC Asia Bond 2081/82' amounting to Rs 3 billion. It has already been listed in Nepal Stock Exchange, the bank further said. The bank expressed its belief that the proposed 11 percent coupon interest rate will provides a very attractive long-term investment opportunity to investors

 

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