KATHMANDU:

Securities Board of Nepal (Sebon) has approved the issuance of 1.5 million unit of power bonds of Nepal Electricity Authority (NEA) with a face value of Rs 1,000 each. Of the total bonds, 1,50,000 units will be sold for general public and the remaining 1,350,000 units will be sold through private placement system.

Nepal Merchant Banking and Finance Ltd is the sales and issue manager for sales of the bond that is aimed at financing hydropower development projects, states a press release issued here by Sebon.