Prime Bank Debenture Listed on NEPSE
Prime Bank’s 6.25% debenture worth Rs. 3 billion has been listed on NEPSE with the debt instrument carrying a 10-year maturity until 2093.
Prime Commercial Bank Limited has listed its “6.25% Prime Bank Debenture 2093 (PBD93)” on the Nepal Stock Exchange (NEPSE).
An agreement between Prime Commercial Bank and NEPSE was signed for the listing of 3 million units of the debenture. Each unit has a par value of Rs. 1,000, taking the total listed value to Rs. 3 billion.
The debenture issue was open for subscription from Ashadh 16 to Ashadh 23, 2083.
Sanima Capital Limited acted as the issue manager for the debenture.
As indicated by its name, the 6.25% Prime Bank Debenture 2093 carries a 6.25% annual coupon rate and has a 10-year maturity period.
With the listing on NEPSE, the debenture units can now be traded in the secondary market, providing investors with a market for buying and selling the debt instrument before maturity.