Nabil Bank has announced issuing ‘Nabil Debenture 2087’ worth Rs3 billion. The bank said in a statement that it has already obtained permission from the board of directors and Nepal Rastra Bank to issue the debenture. 

Debenture is a medium to long-term debt instrument used by large companies to borrow money, at a fixed rate of interest. Nabin Bank has partnered with Kumari Capital as the issue manager. 

Gyanendra Prasad Dhungana, chief executive officer of Nabil Bank and Pushpa Sharma, acting chief executive officer of Kumari Capital, signed the agreement on Tuesday on behalf of their respective organisations at the bank's head office. According to the bank, the bank will issue the debenture for the public after obtaining further permission from the Securities Board of Nepal and the Office of The Company Registrar. 

“The debenture will further enhance the business and risk management of the company by increasing the bank's capital base,” said the bank. 

Nabil Bank is offering its service to the public in all seven provinces via its 255 branch offices and 18 extension counters. (PR)