Shabda Gyawali's Blog

KATHMANDU, Feb 11 - Nepal Electricity Authority (NEA) is issuing a power bond from Thursday to mobilize Rs 1.5 billion from the market to finance civil works of its 30 MW Chamelia, 14 MW Kulekhani III and other hydropower projects. The issuance of 1.5 million units of bond with a face value of Rs 1,000 each will start from February 14 and could be closed by February 20 at the earliest, said Arjun Kumar Karki, managing director of the state-owned utilities service provider. Talking to the press, he elaborated that the bond would mature in 5 years, and the NEA would be providing 7 percent interest rate per annum to the investors. Of the total units, NEA has set aside 150,000 units of bond for public issuance and remaining for individuals and institutions. "However, we are not rigid on this criterion," said Karki, adding that the issue manager has been authorized to issue as much as 50 percent of bond to the general public depending on the response. The NEA has appointed Nepal M...