Punjab National Bank (PNB) has raised Rs 994 crore by issuing Basel III compliant bonds on private placement basis. The bank has issued and allotted Rs 994 crore tier II (Basel III compliant) capital bonds at a coupon of 7.25 per cent per annum on private placement basis.
PNB is one of the oldest banks in India having a virtual presence in every important center of the country. The Bank caters to a wide variety of audience through spectrum of services including corporate and personal banking, industrial finance, agricultural finance and international finance.
