Feb 03, 2023

Standard Chartered Bank issuing of Debentures

Standard Chartered Bank issuing of Debentures

KATHMANDU: Standard Chartered Bank Nepal Limited to raise NPR 2.4bn through the issue of Debentures at 10.30% per annumStandard Chartered Bank Nepal Limited has acquired relevant regulatory approvals to issue Debentures amounting to NPR 2.4bn at an interest rate of 10.30% p.a. The Debenture will have a face value of Rs.1000 (per unit) with a maturity period of five years. NIBL Ace Capital is the Issue manager for the proposed issuance.

Individuals as well as Public and Private Companies seeking regular fixed income can invest in this debenture. Of the total issue, 1.44 million units (NPR 1.44 billion) will be sold on a private placement basis and 960K units (NPR 960 million) through the public issue to the general public including mutual funds.

The Bank enjoys the status of the only international bank currently operating in Nepal. It is also the only Bank in Nepal accredited with ICRANP-IR AAA rating by ICRA Nepal as the safest bank with regards to timely servicing of financial obligations. Recently the Bank was awarded as The Best Managed Commercial Bank in Nepal- 2022 at the NewBiz Conclave.