10.25% The South Indian Bank Ltd. - A Rated (INE683A08028)

The South Indian Bank Ltd., a Private Sector Bank company, has floated Bond, having ISIN value as INE683A08028, with a face value of ₹10,00,000 rs on 30Sep15 to raise 500 crores. The debt instrument is issued with a coupon rate of 10.25% 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 10.25% UNSECURED REDEEMABLE NON CONVERTIBLE BASEL III COMPLIANT TIER 2 BONDS IN THE NATURE OF DEBENTURES. SERIES A. LETTER OF ALLOTMENT. DATE OF MATURITY 31/10/2025. 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 08Oct15. INDIA RATING AND RESEARCH PVT. LTD has given A+ rating to this Bond on 09Dec19. Neither the Principal nor the Interest is covered for this Bond. Yes, this debt instrument is Perpetual In Nature.