Punjab National Bank to raise ₹12,000 cr through bonds

Punjab National Bank (PNB) said that its board has given its approval for raising up to ₹12,000 crore through bonds in one or more tranches. Up to ₹7,000 crore will be raised from the issue of Additional Tier 1 (AT1) bonds while the remaining will be raised from Tier II bonds. Last week, PNB raised ₹974 crore through AT-1 bonds.