Punjab National Bank allots AT-1 bonds aggregating to Rs658 crore; Stock gains 1.5%

22 Sep 2022 , 10:17 AM

Punjab National Bank stock rises on Thursday as the Bank informed the issue of Basel Ill Compliant Additional Tier-I Capital Bonds.

As per the regulatory filing, the Bank has issued and allotted Basel Ill Compliant Additional Tier-I Bonds at a coupon of 8.30% p.a. aggregating to Rs658 crore on private placement basis. The details of the Bonds issued are given below:

Issue Type is 8.30% Unsecured, Subordinated, Non-Convertible, Fully Paid-up, Taxable, Basel Ill Compliant Additional Tier I Bonds of Rs1 crore each which will qualify as Tier I capital.

Further, issue opened on September 19, 2022 and closed on September 19, 2022. The date of allotment is September 21, 2022 and no.of allottees is 9.

On Thursday, at around 10:18 AM, Punjab National Bank is currently trading at Rs40.75 per share up by Rs0.6 or 1.49% from its previous closing of Rs40.15 per share on the BSE.

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