10 billion development bond auction

Kathmandu. Nepal Rastra Bank (NRB) is set to auction development bonds worth Rs 10 billion today. According to the central bank, ‘Development Bond 2085E’ will be sold through bidding process.

Bond interest rates will also be determined through bidding. Arrangements have been made for banks and financial institutions, non-bank financial institutions, insurance companies, organized institutions and Nepalis to purchase. It is possible to take or give a loan by pledging a bond.

The central bank has stated that the bond will be auctioned at 3 pm. The principal repayment of the bond will be made on 2085 Falgun 19 and the interest will be paid semi-annually and interest earned will be charged interest. As per the details, Rs 8.5 billion has been allocated to the competitors and Rs 1.5 billion to the non-competitors.

The minimum amount will be Rs 50,000 and the maximum will be Rs 50,000 without dividing the total amount.