7.84% Axis Bank Limited - AAA Rated (INE238A08419)

Axis Bank Limited, a Private Sector Bank company, has floated Debenture, having ISIN value as INE238A08419, with a face value of ₹10,00,000 rs on 23Nov16 to raise 1800 crores. The debt instrument is issued with a coupon rate of 7.84% 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 7.84% UNSECURED REDEEMABLE NON CONVERTIBLE SUBORDINATED DEBENTURES (BASEL III COMPLIANT TIER II DEBENTURES). SERIES 25. DATE OF MATURITY 23/11/2026. This instrument is issued in Private Placement mode. It has Simple coupon type with Full Redemption option. The Debenture is listed on BSE stock exchange on 01Dec16 & on NSE stock exchange on 30Nov16. INDIA RATING AND RESEARCH PVT. LTD has given AAA rating to this Debenture on 15Nov16. This issuer is formerly known as UTI BANK LIMITED Neither the Principal nor the Interest is covered for this Debenture. Yes, this debt instrument is Perpetual In Nature.