7.99% Punjab And Sind Bank - AA Rated (INE608A08017)

Punjab And Sind Bank, a Finance company, has floated Bond, having ISIN value as INE608A08017, with a face value of ₹10,00,000 rs on 19Oct16 to raise 500 crores. The debt instrument is issued with a coupon rate of 7.99% 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 7.99% UNSECURED REDEEMABLE NON CONVERTIBLE FULLY PAID UP BASEL III COMPLIANT TIER 2 BONDS IN THE NATURE OF DEBENTURES. SERIES XIV. LETTER OF ALLOTMENT. DATE OF MATURITY 19/10/2026. 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 24Oct16 & on BSE stock exchange on 24Oct16. CRISIL RATINGS LIMITED has given AA rating to this Bond on 23Sep16. Neither the Principal nor the Interest is covered for this Bond. Yes, this debt instrument is Perpetual In Nature.