By Sarah Lizee
Olympia, Wash., Oct. 31 – Punjab & Sind Bank informed the Bombay Stock Exchange that it issued Rs. 1 billion of Basel 3-compliant tier 2 bonds.
The bonds carry a Rs. 4 billion greenshoe.
The issue opened for bidding on the electronic bidding platform on the National Stock Exchange of India Ltd. on Thursday. Bids were received for an amount of Rs. 15,445,000,000 and the company accepted Rs. 5 billion, including the greenshoe, with an 8.67% coupon.
Punjab & Sind is a government-owned bank based in New Delhi.
| Issuer: | Punjab & Sind Bank
|
| Issue: | Basel 3-compliant tier 2 bonds
|
| Amount: | Rs. 1 billion
|
| Greenshoe: | Rs. 4 billion
|
| Coupon: | 8.67%
|
| Issue date: | Oct. 31
|
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