8.53% Indian Bank - AAA Rated (INE562A08040)

Indian Bank, a Finance company, has floated Bond, having ISIN value as INE562A08040, with a face value of ₹10,00,000 rs on 22Jan19 to raise 600 crores. The debt instrument is issued with a coupon rate of 8.53% 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 8.53% UNSECURED RATED LISTED REDEEMABLE FULLY PAID UP NON CONVERTIBLE SUBORDINATE BASEL III COMPLAINT TIER II BONDS IN THE NATURE OF DEBENTURES. Date of Maturity : 22/01/2029. This instrument is issued in Private Placement mode. It has Simple coupon type with Full Redemption option. The Bond is listed on NSE stock exchange on 05Feb19 & on BSE stock exchange on 05Feb19. CRISIL RATINGS LIMITED has given AAA rating to this Bond on 28Dec18. Neither the Principal nor the Interest is covered for this Bond. Yes, this debt instrument is Perpetual In Nature.