N.a.m.expressway Limited - AA Rated (INE142U07025)

N.a.m.expressway Limited, a Utilities company, has floated Debenture, having ISIN value as INE142U07025, with a face value of ₹10,00,000 rs on 13Dec18 to raise 305.7 crores. The debt instrument is issued with a coupon rate of MIBOR-OIS PLUS FLOATING RATE PLUS 2.75% 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 Debenture is MIBOR LINKED SECURED UNLISTED UNRATED REDEEMABLE NON CONVERTIBLE DEBENTURES. SERIES II. DATE OF MATURITY 15/11/2032. This instrument is issued in Private Placement mode. It has Simple coupon type with Partial Redemption By Face Value option. The Bond is Not listed on any stock exchange. INDIA RATING AND RESEARCH PVT. LTD has given AA rating to this Debenture on 13May19. Neither the Principal nor the Interest is covered for this Debenture. Yes, this debt instrument is Perpetual In Nature.