7.42% Union Bank Of India - AAA Rated (INE692A08094)

Union Bank Of India, a Public Sector Bank company, has floated Bond, having ISIN value as INE692A08094, with a face value of ₹10,00,000 rs on 16Sep20 to raise 1000 crores. The debt instrument is issued with a coupon rate of 7.42% 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 7.42% UNSECURED RATED LISTED SUBORDINATED NON CONVERTIBLE REDEEMABLE BASEL III COMPLIANT TIER 2 BONDS IN THE NATURE OF DEBENTURES. SERIES XXV.LETTER OF ALLOTMENT. DATE OF MATURITY 16/09/2030. This instrument is issued in Private Placement mode. It has Simple coupon type with Full Redemption option. The Bond is listed on NSE stock exchange on 05Oct20. INDIA RATING AND RESEARCH PVT. LTD has given AAA rating to this Bond on 11Sep20. This issuer is formerly known as THE UNION BANK OF INDIA LIMITED Neither the Principal nor the Interest is covered for this Bond. Yes, this debt instrument is Perpetual In Nature.