9.50% The South Indian Bank Ltd. - A Rated (INE683A08036)

The South Indian Bank Ltd., a Private Sector Bank company, has floated Bond, having ISIN value as INE683A08036, with a face value of ₹1,00,000 rs on 28Nov17 to raise 490 crores. The debt instrument is issued with a coupon rate of 9.50% and its interest is paid Semi 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 9.50% UNSECURED LISTED REDEEMABLE NON CONVERTIBLE BASEL III COMPLIANT TIER 2 BONDS IN THE NATURE OF DEBENTURES. LETTER OF ALLOTMENT. DATE OF MATURITY 28/05/2028. 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 04Dec17. 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.