8.44% Indian Bank - AA Rated (INE562A08065)

Indian Bank, a Finance company, has floated Bond, having ISIN value as INE562A08065, with a face value of ₹10,00,000 rs on 14Dec20 to raise 560 crores. The debt instrument is issued with a coupon rate of 8.44% 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 8.44% UNSECURED LISTED SUBORDINATED FULLY PAID UP NON CONVERTIBLE PERPETUAL BONDS BASELL III COMPLAINT ADDITIONAL TIER 1 BONDS IN THE NATURE OF DEBENTURES. SERIES III.LETTER OF ALLOTMENT.. 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 15Dec20. CRISIL RATINGS LIMITED has given AA+ rating to this Bond on 09Dec20. Neither the Principal nor the Interest is covered for this Bond. Yes, this debt instrument is Perpetual In Nature.