Punjab & Sind Bank — Important, 20-12-2024: Updates

The Bank has successfully issued and allotted Long Term Bonds amounting to ₹3,000 crore on a private placement basis. This issuance includes unsecured, subordinated, redeemable, non-convertible, taxable bonds listed as fully paid-up, with each bond having a face value of ₹1 lakh. The issue features a coupon rate of 7.74% per annum. The base size of the issue was ₹500 crore, complemented by a green shoe option of ₹2,500 crore. A total of 3,00,000 bonds were allotted to 24 allottees, marking a significant capital-raising initiative. This step may enhance the Bank's liquidity and support its infrastructure financing activities, reflecting a positive outlook for meeting future capital requirements.