Monday, 31 October 2016

PNB to raise Rs 6000 crore via bonds

State-owned Punjab National Bank plans to raise Rs 6,000 crore in tranches from bonds to fund business expansion. The board to be held on November 4 will be considering issuance of Basel III compliant debt instruments – Perpetual Additional Tier I capital bonds worth Rs 3,000 crore and Tier-II bonds of up to Rs 3,000 crore, PNB said in a regulatory filing to stock exchanges.

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