By Susanna Moon
Chicago, March 24 – Punjab National Bank notified the Bombay Stock Exchange that it issued Rs. 5 billion of 9.21% unsecured subordinated perpetual bonds.
The Basel 3-compliant tier I capital bonds were issued with a face value of Rs. 1 million each, according to the company notice.
New Delhi-based Punjab National Bank is a public-sector commercial bank.
| Issuer: | Punjab National Bank
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| Issue: | Unsecured subordinated securities
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| Amount: | Rs. 5 billion
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| Maturity: | Perpetual
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| Coupon: | 9.21%
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| Settlement date: | March 24
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