Punjab National Bank Raises 14.25 Billion Rupees Selling Short-Term Notes

Punjab National Bank Ltd., India’s second-largest government-controlled bank by market value, sold 14.25 billion rupees ($307 million) of short-term notes, according to a person familiar with the matter.

The New Delhi-based bank sold 10 billion rupees of 6.77 percent notes maturing on Nov. 26 and 4.25 billion rupees of 6.72 percent securities due on Nov. 3, the person said, asking not to be identified as the issue was private.

To contact the reporter on this story: Suprotip Ghosh in Mumbai sghosh47@bloomberg.net.

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