India’s Punjab & Sind Bank may sell up to Rs. 15 billion of bonds

By Susanna Moon

Chicago, March 29 – Punjab & Sind Bank notified the Bombay Stock Exchange that it may price up to Rs. 10 billion of Basel 3-compliant AT-1 bonds and up to Rs. 5 billion of Basel 3-compliant tier 2 bonds.

The notes would be issued by private placement in one or more tranches in the fiscal year 2017 to 2018, according to the notice.

The issue was approved at a board meeting held Wednesday.

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

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