PNB raises Rs 495 cr via AT-1 bonds

By: |
January 22, 2021 10:25 PM

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.

pnb bondsThe fund was raised through unsecured, subordinated, non-convertible, fully paid-up, perpetual, taxable bonds.

State-owned Punjab National Bank (PNB) on Friday said it has raised Rs 495 crore by issuing bonds on private placement basis.

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.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Market crash wipes off Rs 5.3 lakh cr of investor wealth
2Sensex, Nifty tank most in nine months; will bond yields continue to push domestic markets lower?
3Airtel to seek shareholders’ nod to issue 3.64 cr shares to LMIL for Bharti Telemedia deal