India’s Punjab & Sind Bank plans to sell up to Rs. 60 billion bonds

By Susanna Moon

Chicago, April 28 – Punjab & Sind Bank notified the Bombay Stock Exchange that it plans to sell Basel 3-compliant perpetual capital bonds with Rs. 30 billion of tier 1 bonds and Rs. 30 billion of tier 2 bonds.

The notes would be issued “subject to availability of headroom in one or more tranches,” according to a company 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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