PNB raises Rs 582 crore through bonds

PNB has raised Rs 582 crore by issuing bonds at a coupon of 8.40 percent per annum on a private placement basis on Friday, stated a regulatory filing

PSU Watch Bureau

Published:23rd Dec, 2022 at 9:37 PM

New Delhi: Public sector lender Punjab National Bank (PNB) has raised Rs 582 crore by issuing bonds on a private placement basis.

"The bank has issued and allotted Basel III compliant Additional Tier I bonds at a coupon of 8.40 percent per annum, aggregating to Rs 582 crore on a private placement basis," the bank said in a regulatory filing on Friday.

The bank said the non-convertible taxable bonds will qualify as Tier I capital.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, j oin PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

PNB raises Rs 582 crore through bonds

PNB has raised Rs 582 crore by issuing bonds at a coupon of 8.40 percent per annum on a private placement basis on Friday, stated a regulatory filing

Also Read

Power Grid meets 50% energy needs through green power, marks major ESG milestone

NMDC iron ore output grows 15% in December, sales rise 19%

NHAI to discontinue KYV process for all new car, jeep, van FASTag issuances from Feb 1

Coal India output grows 4.6%; offtake dips 5.2% in December

IREDA hosts New Year 2026 meet, highlights growth and strong financial performance