9.65% Punjab National Bank - AAA Rated (INE160A08019)

Punjab National Bank, a Finance company, has floated Bond, having ISIN value as INE160A08019, with a face value of ₹10,00,000 rs on 24Feb14 to raise 1000 crores. The debt instrument is issued with a coupon rate of 9.65% 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 9.65% UNSECURED REDEEMABLE NON CONVERTIBLE BASEL III COMPLIANT TIER 2 BONDS FOR INCLUSION IN TIER 2 CAPITAL IN THE NATURE OF DEBENTURE. SERIES XIV. LETTER OF ALLOTMENT. DATE OF MATURITY 24/02/2024. 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 11Mar14. CRISIL RATINGS LIMITED has given AAA rating to this Bond on 20Feb14. This issuer is formerly known as PUNJAB NATIONAL BANK LIMITED Neither the Principal nor the Interest is covered for this Bond. Yes, this debt instrument is Perpetual In Nature.