Punjab National Bank (PNB) announced that the bank has raised Rs 18 billion long term bonds for infrastructure (project) finance and affordable housing in the nature of debentures.

The bank said, "For an annual coupon of 8.35% on private placement basis and will mature on Mar. 24, 2025."

Shares of the company declined Rs 1.55, or 0.95%, to settle at Rs 161.60. The total volume of shares traded was 701,941 at the BSE (Tuesday).