Punjab National Bank has issued Basel III Compliant Additional Tier-I Bonds at a coupon of 8.50% per annum, aggregating to Rs1971cr on a private placement basis.
The company on Monday allotted 8.50% Unsecured, Subordinated, Non-Convertible, fully paid-up, Taxable, Basel III Compliant Additional Tier I Bonds which will qualify as Tier I Capital of Rs1cr each.
At around 11.48 am, Punjab National Bank was trading at Rs39.50 per share down by Rs0.35 or 0.88% from its previous closing of Rs39.85 per share on the BSE.
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