India’s Punjab National Bank places Rs. 15 billion of 8.98% bonds

By Susanna Moon

Chicago, July 25 – Punjab National Bank notified the Bombay Stock Exchange that it raised Rs. 15 billion from the sale of 8.98% bonds.

The bank sold additional tier 1 Basel 3 compliant capital bonds on a private placement basis, according to the notice.

New Delhi-based Punjab National Bank is a public-sector commercial bank.

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