Punjab National Bank to raise Rs 500 crore

Punjab National Bank (PNB) will raise Rs 500 crore through the issuance of bonds, with February 18 as the proposed date of opening.

The bank will be raising the amount as Upper Tier-II Bond Issue Series VII through private placement with an option to retain oversubscription, the country’s second-largest state-owned lender informed the Bombay Stock Exchange today. The proposed closing date would be February 18.