7.10% Punjab National Bank - AAA Rated (INE160A08175)

Punjab National Bank, a Finance company, has floated Bond, having ISIN value as INE160A08175, with a face value of ₹10,00,000 rs on 11Nov20 to raise 1500 crores. The debt instrument is issued with a coupon rate of 7.10% 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 7.10% UNSECURED RATED LISTED SUBORDINATED NON-CONVERTIBLE TAXABLE REDEEMABLE BASEL III COMPLIANT TIER II BONDS IN THE NATURE OF DEBENTURES. LETTER OF ALLOTMENT. SERIES XXIII. DATE OF MATURITY 09/11/2035. 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 14Nov20. INDIA RATING AND RESEARCH PVT. LTD has given AAA rating to this Bond on 21Oct20. 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.