8.85% The Tata Power Company Limited - AA Rated (INE245A07432)

The Tata Power Company Limited, a Electric Utilities company, has floated Debenture, having ISIN value as INE245A07432, with a face value of ₹17,68,800 rs on 14Nov19 to raise 220 crores. The debt instrument is issued with a coupon rate of 8.85% 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 Debenture is MCLR LINKED + SPREAD OF 0.35% SECURED UNLISTED RATED REDEEMABLE NON CONVERTIBLE DEBENTURES. LETTER OF ALLOTMENT DATE OF MATURITY 31/03/2028. This instrument is issued in Private Placement mode. It has Simple coupon type with Partial Redemption By Face Value option. The Bond is Not listed on any stock exchange. INDIA RATING AND RESEARCH PVT. LTD has given AA+ rating to this Debenture on 13Nov19. Neither the Principal nor the Interest is covered for this Debenture. Yes, this debt instrument is Perpetual In Nature.