PNB to raise Rs 500 cr via Tier-II bonds

Mumbai, Mar 24: Punjab National Bank, one of the leading public sector bank, today said it will raise Rs 500 crore through Tier-II bonds. The bank would raise by issuing -- 'PNB Upper Tier-II bonds series- IV' -- with option to retain over subscription, through private placement, PNB said in a communique to BSE. The proposed opening date is March 25, 2008 and proposed date of closing is March 26, 2008, the communique added.

UNI