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.