NIMB Ace Capital Ltd announced Thursday, June 12, that Nepal Infrastructure Bank Limited (NIFRA) has successfully completed the allotment of its “NIFRA Green Energy Bond 6% – 2088/89”.
The allotment event was held on the premises of NIMB Ace Capital, Lazimpat, Kathmandu, in the presence of representatives from NIMB Ace Capital Limited (the issue manager), NIFRA, regulatory authorities, and other stakeholders.
Read: GGGI Nepal Celebrates Nepal’s First Public Green Bond Issued with KOICA’s Support
“The Rs 5 billion bond issue received an overwhelming response from investors, with total applications exceeding the offered amount by 3.8 times, reflecting strong market confidence in NIFRA’s green financing vision,” NIMB Ace Capital said in a statement.
“For NIMB Ace Capital Ltd., this initiative is a natural extension of our legacy rooted in innovation and foresight,” said Shivanth Bahadur Pandé, CEO of NIMB Ace Capital Ltd. “By enabling Nepal’s first ever Green Energy Bond issuance, we are showcasing our commitment to sustainability, and are building on our long-standing vision of pioneering topical and impactful financial solutions for Nepal’s climate-resilient development.”
The debenture was structured with 60% of the total issue allocated through private placement and the remaining 40% offered to the general public.
With a fixed annual interest rate of 6% and a tenure of 7 years, this bond is designed to fund energy infrastructure projects, with a special emphasis on clean and renewable energy initiatives. The proceeds are expected to support hydropower and solar energy as the sustainable ventures align with NIFRA’s commitment to Green, Resilient, and Inclusive Development (GRID).
