PNB raises Rs 582 cr through Basel III compliant Additional Tier-I bonds
Public sector lender Punjab National Bank (PNB) has raised Rs 582 crore by issuing bonds on a private placement basis
 "Punjab National bank")
Punjab National bank is an Indian multinational banking and financial services founded in 1894 | Photo: Shutterstock
Public sector lender Punjab National Bank (PNB) has raised Rs 582 crore by issuing bonds on a private placement basis.
The bank has issued and allotted Basel III compliant Additional Tier I bonds at a coupon of 8.40 per cent per annum, aggregating to Rs 582 crore on a private placement basis, the bank said in a regulatory filing on Friday.
The bank said the non-convertible taxable bonds will qualify as Tier I capital.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Dec 23 2022 | 11:54 PM IST