8.78% Indian Bank - AAA Rated (INE428A08028)

Indian Bank, a Finance company, has floated Bond, having ISIN value as INE428A08028, with a face value of ₹10,00,000 rs on 20Jan15 to raise 500 crores. The debt instrument is issued with a coupon rate of 8.78% 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 8.78% UNSECURED REDEEMABLE NON CONVERTIBLE BASEL III COMPLIANT TIER 2 BONDS IN THE NATURE OF DEBENTURES. SERIES 1. LETTER OF ALLOTMENT. DATE OF MATURITY 20/01/2025. 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 01Jul20 & on BSE stock exchange on 27Jan15. CRISIL RATINGS LIMITED has given AAA rating to this Bond on 12Jan15. Neither the Principal nor the Interest is covered for this Bond. Yes, this debt instrument is Perpetual In Nature.