Punjab National Bank raises Rs 800cr

Punjab National Bank has raised Rs 800 crore through private placement bonds under Tier I and Tier II series.

According to a release issued by the bank to the BSE today, the bank raised Rs 300 crore as PNB Tier I Perpetual Bond Series II through private placement (deemed date of allotment December 11, 2007).

Further, the remaining Rs 500 crore will be raised as PNB Upper Tier II Bonds Series II through private placement (deemed date of allotment December 12, 2007).