8.75% Punjab National Bank - AAA Rated (INE695A09103)

Punjab National Bank, a Finance company, has floated Bond, having ISIN value as INE695A09103, with a face value of ₹10,00,000 rs on 25Jun13 to raise 500 crores. The debt instrument is issued with a coupon rate of 8.75% 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 Secured Bond is 8.75% UNSECURED NON CONVERTIBLE REDEEMABLE BASEL III COMPLIANT TIER II BONDS. SERIES VIII. DATE OF MATURITY 25/06/2023. 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 08Jul13. INDIA RATING AND RESEARCH PVT. LTD has given AAA rating to this Bond on 28Mar14. 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.