8.40% Punjab National Bank - AA Rated (INE160A08209)

Punjab National Bank, a Finance company, has floated Bond, having ISIN value as INE160A08209, with a face value of ₹1,00,00,000 rs on 09Dec21 to raise 2000 crores. The debt instrument is issued with a coupon rate of 8.40% 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 8.40% UNSECURED SUBORDINATED NON CONVERTIBLE BASEL III COMPLIANT FULLY PAID UP PERPETUAL DEBT INSTRUMENTS IN THE NATURE OF DEBENTURES. SERIES XIII. LETTER OF ALLOTMENT. This instrument is issued in Private Placement (EBP) mode. It has Simple coupon type with Full Redemption option. The Bond is listed on BSE stock exchange on 10Dec21. INDIA RATING AND RESEARCH PVT. LTD has given AA+ rating to this Bond on 16Nov21. 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.