Interest rate set at 7 percent
KATHMANDU, April 18: Rastriya Banijya Bank (RBB) will issue 2.5 million units of bonds worth Rs 2.50 billion starting Sunday.
RBB begins bond sale from today
The bank has set a 7 percent interest rate on the seven-year bond. It will allocate 1.5 million units worth Rs 1.50 billion (60 percent) to institutional investors and one million units worth Rs one billion (40 percent) to the general public.
From the portion reserved for the general public, the bank has earmarked 50,000 units for mutual funds. Individual investors can apply for the remaining 950,000 units.
Investors can apply for at least 25 units and up to the full amount of bonds, each with a face value of Rs 1,000. The issue manager, Sanima Capital, will close the bond offering as early as April 23 or by May 4 at the latest.
