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NIC Asia and Nabil Investment sign agreement

By Our Reporter
NIC ASIA Bank has signed “Issue Management Agreement” with Nabil Investment Banking Ltd. for the issuance of “11% NICASIA Bond 2082/83” amounting Rs 1.83 billion with a coupon rate of 11% per annum payable on semi-annual basis. 1,830,000 units of bonds with a face value of Rs. 1,000 per unit shall be issued of which 80% of the issue will be offered through Private Placement and the rest will be offered to the general public after obtaining approval from Securities Board of Nepal (SEBON).
The Agreement was signed by Roshan Kumar Neupane, Acting CEO, on behalf of NIC ASIA Bank and Sabir Bade Shrestha, CEO, on behalf of Nabil Investment Banking Ltd.
Bank has issued 3 million units of “9% NIC Asia Bond 2081/82” amounting to 3 billion previously which was fully subscribed and has already been listed in Nepal Stock Exchange. The Bank believes that the proposed 11% coupon interest rate provides a very attractive long-term investment opportunity to investors.

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