The bank has issued and allotted Rs 495 crore Additional Tier – 1 (Basel III Compliant) Capital Bonds at a coupon of 8.6 per cent per annum on private placement basis, PNB said in a regulatory filing.
The fund was raised through unsecured, subordinated, non-convertible, fully paid-up, perpetual, taxable bonds, which will qualify as Basel III-compliant Additional Tier I Capital of Rs 10 lakh each, it added.
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