9.50% The Jammu And Kashmir Bank Limited - AA Rated (INE168A08079)

The Jammu And Kashmir Bank Limited, a Private Sector Bank company, has floated Bond, having ISIN value as INE168A08079, with a face value of ₹1,00,00,000 rs on 30Mar22 to raise 360 crores. The debt instrument is issued with a coupon rate of 9.50% 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 9.50%UNSECURED REDEEMBALE NON CONVERTIBLE BASEL III COMPLIANT TIER 2 BONDS IN THE NATURE OF DEBENTURES.DATE OF MATURITY 30/03/2032. This instrument is issued in Private Placement (non-EBP) mode. It has Simple coupon type with Full Redemption option. The Bond is listed on BSE stock exchange on 04Apr22. INDIA RATING AND RESEARCH PVT. LTD has given AA- rating to this Bond on 24Feb22. Neither the Principal nor the Interest is covered for this Bond. Yes, this debt instrument is Perpetual In Nature.