8.50% Lucknow Municipal Corporation - AA Rated (INE05OC24058)

Lucknow Municipal Corporation, a Utilities company, has floated Bond, having ISIN value as INE05OC24058, with a face value of ₹1,42,900 rs on 18Nov20 to raise 28.58 crores. The debt instrument is issued with a coupon rate of 8.50% and its interest is paid Semi 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 Secured Bond is 8.50% SECURED RATED LISTED TAXABLE REDEEMABLE NON CONVERTIBLE BONDS IN THE NATURE OF DEBENTURES. SERIES E. DATE OF MATURITY 18/11/2028.. 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 02Dec20. INDIA RATING AND RESEARCH PVT. LTD has given AA rating to this Bond on 06Oct20. This issuer is formerly known as LUCKNOW NAGAR MAHAPALIKA Neither the Principal nor the Interest is covered for this Bond. Yes, this debt instrument is Perpetual In Nature.