9.24% Indian Overseas Bank - AA Rated (INE565A09256)

Indian Overseas Bank, a Finance company, has floated Bond, having ISIN value as INE565A09256, with a face value of ₹10,00,000 rs on 03Nov16 to raise 800 crores. The debt instrument is issued with a coupon rate of 9.24% 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 9.24% UNSECURED NON CONVERTIBLE BASEL III COMPLIANT TIER II BONDS IN THE NATURE OF PROMISSIORY NOTE. SERIES I. DATE OF MATURITY 03/11/2026. 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 11Nov16 & on NSE stock exchange on 09Nov16. CRISIL RATINGS LIMITED has given AA- rating to this Bond on 29Jun22. Neither the Principal nor the Interest is covered for this Bond. Yes, this debt instrument is Perpetual In Nature.