8.70% Bank Of Maharashtra - AA Rated (INE457A08050)

Bank Of Maharashtra, a Finance company, has floated Debenture, having ISIN value as INE457A08050, with a face value of ₹10,00,000 rs on 06Mar20 to raise 600 crores. The debt instrument is issued with a coupon rate of 8.70% 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 Debenture is 8.70% UNSECURED RATED LISTED SUBORDINATED NON CONVERTIBLE FULLY PAID UP TAXABLE REDEEMABLE BASEL TIER II BONDS IN THE NATURE OF DEBENTURE.SERIES I. LETTER OF ALLOTMENT. DATE OF MATURITY 06/03/2030. This instrument is issued in Private Placement mode. It has Simple coupon type with Full Redemption option. The Debenture is listed on NSE stock exchange on 19Mar20 & on BSE stock exchange on 24Mar20. CARE RATINGS LIMITED has given AA+ rating to this Debenture on 06Mar20. Neither the Principal nor the Interest is covered for this Debenture. Yes, this debt instrument is Perpetual In Nature.