PNB board to meet on Sept 10 to consider raising capital via AT-1 bonds

The capital would be raised in one or more tranches, the lender said in an exchange filing

Punjab National Bank’s (PNB) board will meet on September 10 to consider the proposal for raising of capital through issuance of Basel-III compliant Additional Tier-1 (AT-1) Bonds and Additional Tier-II bonds or a combination of both.

The capital would be raised through this route, in one or more tranches, the lender said in an exchange filing.

Earlier, the meeting of board of directors was scheduled on August 27, but was deferred.