KATHMANDU

Kumari Bank Limited has announced the issuance of bonds from Kartik 2. The bank will issue 50 lakh units of bonds at a rate of Rs. 1,000 per unit.

Out of this, the bank will sell 30 lakh units to other organizations in its first phase and open the remaining 20 lakh units to the general public. This will exempt the Collective Investment Fund by 1 lakh units, which is equivalent to a 5% investment.

Kumari Bank has started issuing ‘10% KBIL Debenture 2090’ for a period of 10 years. The bank will provide an annual interest rate of 10% on this bond. Applications for this bond can be submitted until Kartik 12. If all the bonds are not sold by then, the bank will extend the application deadline until Kartik 16.

In this bond, applications can be submitted from a minimum of 25 units to a maximum of 5 lakh units. C-ASBA member banks, financial institutions, and my share software can apply online. Rating agency ICRA Nepal has provided this bond with an ‘ICRA NP Triple B’ rating, indicating medium security in the company’s financial obligations.