The third largest public sector lender Punjab National Bank today raised Rs 1,500 crore from Basel III-compliant bonds through private placement.
"The bank has raised Rs 1,500 crore tier II (Basel III compliant) capital bonds, said in an exchange filling, adding the debt instrument carries an annual coupon of 8.65 per cent.
Banks are raising money through this route to raise Tier II capital,
They are unable to raise money through share issues, due to bad market conditions.
"The bank has raised Rs 1,500 crore tier II (Basel III compliant) capital bonds, said in an exchange filling, adding the debt instrument carries an annual coupon of 8.65 per cent.
Banks are raising money through this route to raise Tier II capital,
They are unable to raise money through share issues, due to bad market conditions.
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