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Punjab National Bank - Bank Bond - Coupon Rate-9.15%
Key Highlights
- This bond can be considered for medium term Investment purpose with annual returns. Coupon is 9.15% i.e you will receive Rs. 91,500.0 annual interest for every 10 lac Investment. It has call option on 13-Feb-2025.
- The bond issuer is of type Public Sector Bank. The Issuer raised total Rs. 1500.0 Cr for this bond.
- Use of Proceeds: To enhance long-term resources for funding of infrastructure & affordable housing projects basel iii.
- It is rated AA+ by CARE and AA+ by IND-RA.
About Issuer
PNB is India’s first swadeshi bank that started operations in 1895 and was established as the first bank purely managed by Indians with Indian capital. The bank enjoys a steady growth and customer base, with domestic business crossing a milestone of 10 lakh crores and 62% of its branches in rural and semi-urban areas.
Punjab National Bank is currently focusing on a transformational exercise for Business Excellence to enhance Efficiency, Productivity, and Profitability for long-term sustenance and giving the Bank an edge over its competitors.
Headquarters: New Delhi, India
Branches: 6,937 branches and 10681 ATMs across 764 cities
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