Punjab National Bank raises Rs 2,000 crore via Basel III bonds

The bank has issued and allotted Basel III compliant additional tier-I bonds at a coupon rate of 8.75 per cent per annum

FPJ Web DeskUpdated: Wednesday, July 06, 2022, 08:59 PM IST
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Punjab National Bank raises Rs 2,000 crore via Basel III bonds |

Public sector lender Punjab National Bank (PNB) on Wednesday said it has raised Rs 2,000 crore by issuing Basel III compliant bonds to certain investors on a private placement basis.

The bank has issued and allotted Basel III compliant additional tier-I bonds at a coupon rate of 8.75 per cent per annum aggregating to Rs 2,000 crore on private placement basis, PNB said in a regulatory filing.

The Delhi-based lender said it issued a total of 2,000 bonds to 20 allottees on Wednesday.

Stock of PNB closed at Rs 29.95 apiece on BSE, up by 0.84 per cent from its previous close.

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