KATHMANDU, June 20: Nepal Rastra Bank is going to sell development bonds worth Rs 15 billion. The central bank, in a statement today, said that the bonds would be sold for five years.
The bonds — which are going to be auctioned — are available for banks and financial institutions, non-bank financial institutions, insurance companies, organizations and Nepali citizens to purchase. The bonds can also be used as collateral to borrow loans from banks and financial institutions.
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Bonds worth 85 percent of the total size (Rs 12.75 billion) will be available for purchase through competitive bidding while bonds worth 15 percent of the total size (Rs 2.25 billion) will be available in non-competitive bidding.
The buyers can purchase bonds of a minimum of Rs 50,000 while a maximum of the amount equivalent to the whole number obtained when bonds, not exceeding the total size, are divided by 50,000. The secondary market transaction of the bonds will be done through Nepal Stock Exchange Limited.
