KATHMANDU: Nepal Rastra Bank (NRB) is going to issue 10 billion rupees development bond 2086 ‘6’.

The bank is going to issue development bonds for a period of 6 years on August 4. This bond will be sold tomorrow August 3.

Interested banks and financial institutions, non-bank financial institutions, insurance companies, organized organizations and Nepali citizens can submit bids for this bond. The interest rate of this bond will also be negotiated.

According to NRB, the interest payment will be half-yearly and interest tax will be charged on the accrued interest. The bond will mature on August 3, 2029. This bond can be secured and loaned.

Interested buyers may participate competitively or non-competitively in the tender. NRB has allocated 85 and 15 percent of the issued amount i.e. Rs. 8.5 billion and Rs 1.5 billion respectively.