Punjab & Sind Bank to accept bids for Rs. 5 billion bonds Wednesday

By Angela McDaniels

Tacoma, Wash., Oct. 4 – Punjab & Sind Bank plans to issue up to Rs. 5 billion of Basel III-compliant tier 2 bonds through a private placement, according to a letter to the Bombay Stock Exchange Ltd.

Bids for the bonds (Care: AA; Crisil: AA) can be made through the electronic bidding platform of the National Stock Exchange of India Ltd. on Wednesday.

Punjab & Sind is a government-owned bank based in New Delhi.

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