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Central Bank issues development bonds worth 5 billion - theoceannews.com

Central Bank issues development bonds worth 5 billion

Today, Monday, the Nepal Rastra Bank (NRB), the nation’s central bank, releasing development bonds worth Rs 5 billion.

The Public Debt Management Department, NRB, issuing the development bond 2075 “F” with a 6 year maturity length to collect internal loans for government development projects.

In order to apply for the development bonds, interested Banks and Financial Institutions (BFIs), non-banking financial institutions, insurance companies, organised institutions, and Nepali residents must be members of one of these categories, according to the NRB.

Both competitive and non-competitive auctions are open to interested parties. A competitive auction will receive 85% of the issued development bonds, while a non-competitive auction will receive 15%.

By Tuesday at 3 p.m., bidders may submit offers for a minimum of 50,000 and a maximum of all sums divisible by 50,000.

The bond’s interest rate will be determined through competitive bidding, and interest will be paid every two years. The bond has secondary market trading capabilities and is acceptable as collateral in BFIs.

Similar to that, tomorrow, Tuesday, the Central Bank would issue treasury bills worth Rs 18.01 billion.

91-day Treasury Bills worth Rs. 9.10 billion and 365-day Treasury Bills worth Rs. 8.91 billion would be issued by NRB.

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