Punjab National Bank (PNB) has raised Rs 1971 crore through Unsecured, Subordinated, Non-Convertible, fully paid-up, Taxable, Basel III Compliant Additional Tier I Bonds which will qualify as Tier I Capital (the Bonds) at a coupon of 8.50% p.a. on private placement basis. The bank has issued and allotted 1971 bonds of Rs 1 crore each.
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.
