Energy bond issued by NMB Bank oversubscribed within four days

NL Today

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Kathmandu: The NMB Energy Bond, a local currency energy bond issue marking the first of its kind issuance in Nepal, has been oversubscribed within four days of issuance on May 23.

The bond with a total issuance value of Rs 1.5 billion carried a yield rate of four percent with a tenure of 15 years.

The oversubscription within a short time frame during the current situation of limited mobility was made possible due to the majority of applications being processed via digital mediums.

The Energy Bond issuance resulted in early oversubscription with encouraging demand from individuals as well as institutional investors, the bank said in a statement.

“The NMB Energy Bond issuance is in line with the commitment of NMB Bank towards Sustainable Banking contributing for the overall development of the real economy and is one of the numerous initiatives the bank has undertaken to demonstrate its continued commitment towards responsible banking,” reads the statement.