7.75% Bank Of Maharashtra - AA Rated (INE457A08068)

Bank Of Maharashtra, a Finance company, has floated Bond, having ISIN value as INE457A08068, with a face value of ₹10,00,000 rs on 14Dec20 to raise 200.7 crores. The debt instrument is issued with a coupon rate of 7.75% 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 7.75% UNSECURED SUBORDINATED FULLY PAID UP TAXABLE NON CONVERTIBLE REDEEMABLE BASEL III COMPLAINT TIER II BONDS IN THE NATURE OF DEBENTURE. SERIES I. LETTER OF ALLOTMENT. DATE OF MATURITY 13/12/2030. 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 16Dec20. Acuite Ratings And Research Limited has given AA+ rating to this Bond on 03Nov20. Neither the Principal nor the Interest is covered for this Bond. Yes, this debt instrument is Perpetual In Nature.