Kathmandu, Oct. 17
Nepal Infrastructure Bank
Limited (NIFRA) has appointed NIMB Ace Capital Limited as the issue manager for
its upcoming 'NIFRA Energy Bond 6% (2088/89)'. "This new bond issuance
aims to bolster the country’s energy infrastructure, a crucial element for
Nepal’s economic growth," the company said in a statement issued on
Thursday.
The NIFRA Energy Bond
will feature a 6 per cent interest rate and a validity period of seven years,
with a total issuing size of Rs. 5 billion. After getting approval from the
Securities Board of Nepal (SEBON), 60 per cent of the total shares will be
allocated for private placement, allowing selected investors to participate,
while the remaining 40 per cent will be available to the general public, the
company said.
According to NIFRA, the
bond issuance is expected to bolster the energy sector, enhance financial
inclusion and provide a secure investment avenue for both institutional and
individual investors.
It also expressed its
commitment to facilitating infrastructure development in Nepal, offering a
range of financial services tailored to meet the needs of both public and
private sectors.
Published in The Rising Nepal daily on 18 October 2024.
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