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PNB, BoB, Syndicate to raise Rs 7,000 crore via AT-1 bonds

Banks in India raised Rs 45,290 crore in capital by issuing AT-1 bonds in 2016-17: ICRA

Abhijit Lele  |  Mumbai 

Three government-owned lenders — Bank of Baroda (BoB), Punjab National Bank (PNB) and Syndicate Bank — are raising a total of Rs 7,000 crore through Tier-I bonds, to bolster their Capital Adequacy Ratio (CAR). Delhi-based PNB is raising up to Rs 3,000 crore, Mumbai-based BoB will issue AT-1 bonds for Rs 3,000 crore and Manipal-based Syndicate will raise about Rs 1,000 crore. Under Basel-III norms, a bank’s capital comprises two tiers. Tier-I or core capital has two components — common equity (CET-1) and hybrid capital, combining features of equity and ...

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