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PNB to raise Rs 1,000 crore on private placement basis

01 Oct 2014 Evaluate

Punjab National Bank (PNB), one of the country’s largest lenders, is raising Rs 1,000 crore Tier-II (Basel III compliant) Capital Bonds at an annual coupon rate of 9.25% on Private placement basis.

The bank has recently at its board meeting held on September 19, 2014 discussed about various options of raising capital to meet Basle-III guidelines & also to fund the general business needs of the bank.

Peers
Company Name CMP
State Bank Of India 952.80
PNB 114.30
Bank Of Baroda 234.55
Canara Bank 119.00
Union Bank Of India 173.00
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