KATHMANDU: Prabhu Bank has issued bonds worth Rs 4 billion Tuesday.
The bank has issued a 10-year bond ‘Prabhu Bank Debenture-2087’ worth Rs 4 billion, with an annual interest rate of 8.5 per cent.
The total issue is for 40,00,000 units, with each unit having a par value of Rs 1,000. While 24 lakh units will be subscribed via private placement, 16 lakh units will be offered to the general public, including a 5% quota for mutual funds.
Investors can apply for a minimum of 25 units to a maximum of 10,00,000 units. The intital deadline for the bond is May 30.
If the issue is not subscribed by May 30, deadline will be extended to June 9.
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