Perpetual bond with 2029 as maturity date on GoldenPi?

Bonds
1

This bond by HDB Financial Services is having “call date” as 29th Nov, 2029. However, when you expand the page by clicking “View more”,

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It is showing “Perpetual” as “Yes”.

How can a perpetual bond have a call date? Doesn’t perpetual mean that the company will keep paying you interest forever?

I am not an experienced bond investor and am not familiar with “call date”, but how can I call in the bond if it is perpetual?

Call date is shown as “The date on which the principal and due interest amount are paid to the bondholder by the issuer” on GoldenPi.

@GoldenPi

2

Perhaps it is a call-able bond ?

The link shared above requires login.
Can you download and attach the prospectus for review/reference here?
(i expect the clarification/details to be available in the prospectus)

3

In India Perpetual is a class and most of them have a Call Option. The Bond usually is called on that day and matures early. I haven’t seen a bond truly being Perpetual in India. Most Bonds are from Banks and NBFC but there are Non-Financial Companies also which have Perps!

4

Is it an AT-1 bond like the Yes Bank and Credit Suisse bonds?

5

Looks like it is a call-able bond.

Page 87 of the above attached prospectus has the details of the call-date.

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6

AT-1 are issued by banks. This is NBFC.
Pretty common for perpetual bonds to have a call date. That way it is perpetual if issuer wants it or redeemable at defined interval.

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