Punjab National Bank (PNB) 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. It issued a total of 2,000 bonds to 20 allottees on July 6, 2022.
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.
