The Hindu Business Line : PNB perpetual debt offering

Punjab National Bank (PNB) has said that it would launch a Tier-I perpetual bonds issue on Thursday with the size of Rs 250 crore on a private placement basis. The bond issuance programme would also have a green shoe option of Rs 250 crore . The date of opening of the bond offering is July 12 and the date of closing is July 27, PNB said in a communiqu‚ to the NSE. PNB's top management had recently dropped plans for a follow-on public offering to raise further capital, but indicated its intent to look at other avenues for raising capital to fund business growth. - Our Bureau

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