7.18% Canara Bank - AAA Rated (INE476A08076)

Canara Bank, a Public Sector Bank company, has floated Bond, having ISIN value as INE476A08076, with a face value of ₹10,00,000 rs on 11Mar20 to raise 3000 crores. The debt instrument is issued with a coupon rate of 7.18% 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 7.18% UNSECURED SUBORDINATED NON CONVERTIBLE REDEEMABLE FULLY PAID UP TAXABLE BASEL III COMPLIANT TIER II BONDS IN THE NATURE OF DEBENTURES. LETTER OF ALLOTMENT. SERIES I. DATE OF MATURITY 11/03/2030. 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 13Mar20 & on NSE stock exchange on 13Mar20. INDIA RATING AND RESEARCH PVT. LTD has given AAA rating to this Bond on 28Feb20. This issuer is formerly known as CANARA BANK LIMITED Neither the Principal nor the Interest is covered for this Bond. Yes, this debt instrument is Perpetual In Nature.