Agriculture Development Bank gets permission from Nepal Securities Board to issue 6 million units of bonds worth Rs 6 billion

The Agriculture Development Bank is going to issue a bond of Rs 6 billion. The bank has received permission from the Nepal Securities Board to sell 6 million units of bonds at the rate of Rs 1,000 per unit. The bank is about to issue a seven-year bond in the name of ‘Agriculture Development Bank Debenture 2084’. 
Out of the total 6 million units, the bank has allotted 2.4 million units to the public and the remaining 3.6 million units will be sold to other organizations on its own initiative. NIBL S Capital will act as the sales manager for the bonds and will pay an annual interest rate of 4% on the bonds, the bank said.

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