8.15% Indian Bank - AA Rated (INE428A08051)

Indian Bank, a Finance company, has floated Bond, having ISIN value as INE428A08051, with a face value of ₹10,00,000 rs on 25Jan17 to raise 1000 crores. The debt instrument is issued with a coupon rate of 8.15% 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 8.15% UNSECURED REDEEMABLE NON CONVERTIBLE BASEL III COMPLIANT TIER 2 BONDS IN THE NATURE OF DEBENTURES. SERIES III. LETTER OF ALLOTMENT. DATE OF MATURITY 25/01/2027. 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 31Jan17 & on NSE stock exchange on 02Jul20. INDIA RATING AND RESEARCH PVT. LTD has given AA+ rating to this Bond on 04Sep19. Neither the Principal nor the Interest is covered for this Bond. Yes, this debt instrument is Perpetual In Nature.