10.70% The Karnataka Bank Limited - A Rated (INE614B08054)

The Karnataka Bank Limited, a Finance company, has floated Bond, having ISIN value as INE614B08054, with a face value of ₹1,00,00,000 rs on 30Mar22 to raise 300 crores. The debt instrument is issued with a coupon rate of 10.70% 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 Bond is 10.70% UNSECURED, LISTED REDEEMABLE, NON-CONVERTIBLE BASEL-III SUBORDINATED BONDS IN THE NATURE OF DEBENTURES. SERIES VII. DATE OF MATURITY 30/03/2032. This instrument is issued in Private Placement (EBP) mode. It has Simple coupon type with Full Redemption option. The Bond is listed on NSE stock exchange on 31Mar22. CARE RATINGS LIMITED has given A rating to this Bond on 30Mar22. Neither the Principal nor the Interest is covered for this Bond. Yes, this debt instrument is Perpetual In Nature.