9.53% Indian Bank - AA Rated (INE428A08101)

Indian Bank, a Finance company, has floated Bond, having ISIN value as INE428A08101, with a face value of ₹10,00,000 rs on 27Dec19 to raise 1500 crores. The debt instrument is issued with a coupon rate of 9.53% and its interest is paid Annually. The returns are Taxable and one has to pay the applicable tax on the returns from this investment. As per the filings, the long description of this Unsecured Bond is 9.53% UNSECURED REDEEMABLE NON CONVERTIBLE BASEL III COMPLIANT TIER 2 BONDS IN THE NATURE OF DEBENTURES. SERIES IV. LETTER OF ALLOTMENT. DATE OF MATURITY 27/12/2029.. This instrument is issued in Private Placement mode. It has Simple coupon type with Full Redemption option. The Bond is listed on BSE stock exchange on 31Dec19 & on NSE stock exchange on 31Dec19. INDIA RATING AND RESEARCH PVT. LTD has given AA+ rating to this Bond on 13Dec19. Neither the Principal nor the Interest is covered for this Bond. Yes, this debt instrument is Perpetual In Nature.