Latest News | PNB Raises Rs 1,971 Cr Through Bonds

New Delhi, Jan 17 (PTI) State-owned Punjab National Bank (PNB) on Monday said it has garnered Rs 1,971 crore through additional tier-1 bonds, to fund business growth.

The bank has issued and allotted Basel-III-compliant additional tier-1 (AT-1) bonds at a coupon of 8.50 per cent per annum aggregating to Rs 1,971.00 crore on a private placement basis, PNB said in a regulatory filing.

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The bank issued 1971 bonds worth Rs 1 crore each, it said.

These bonds have been issued to 13 investors, it added. HRS hrs

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)