KATHMANDU, April 20: Rastriya Banijya Bank (RBB) is selling bonds worth Rs 2.50 billion starting today. The RBB secured approval from the Nepal Securities Board to issue a total of 2.5 million bond units.
These seven-year bonds offer an annual interest rate of seven percent. Investors can apply for a minimum of 25 units and up to the full number of available bonds. Sanima Capital is managing the bond issuance, with the sale running from April 23 and no later than May 4.
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The RBB has allocated 60 percent of the total issue-1.5 million units worth Rs 1.50 billion-for institutional investors.It has opened the remaining 40 percent-1 million units worth Rs 1 billion-for the general public. Of this, 50,000 units are reserved for mutual funds, while individual investors can purchase the remaining 950,000 units.
CARE Ratings Nepal rated the bank 'CARE NP A Plus'. The RBB maintains an authorized capital of Rs 30 billion, issued capital of Rs 15.637 billion, and paid-up capital of Rs 15.637 billion.
