Prime Commercial Bank Limited has extended the application deadline for its "6.25% Prime Bank Debenture 2093" until Ashadh 30, 2083. The bank is issuing 3 million units of the debenture to institutional and public investors.

The debenture carries a 10-year maturity period with an annual coupon rate of 6.25%. The issue was initially opened for subscription on Ashadh 16, 2083.

A total of 3 million units are being issued at a par value of Rs. 1,000 per unit. Of the total issue, 60% (1.8 million units) will be allotted through private placement, while the remaining 1.2 million units will be offered to the general public. Out of the public portion, 60,000 units (5%) have been reserved for mutual funds. The issuance aims to raise a total of Rs. 3 billion.

According to CDSC, as of yesterday, 8,657 applicants had applied for 613,825 units worth approximately Rs. 613.8 million (Rs. 61.38 crore).

Sanima Capital Limited has been appointed as the issue manager. Investors can apply for a minimum of 25 units and up to the total number of units offered.