Public sector lender Punjab National Bank today said it will raise Rs 700 crore by issues of bonds.

The bank would raise Rs 500 crore by issue of upper tier II bonds, PNB said in a filing to the Bombay Stock Exchange.

Further, the bank would also raise a sum of Rs 200 crore through issue of tier I perpetual bonds, the filing said.

The issue would open on November 24 and close on November 25, 2009.

Shares of PNB closed at Rs 917.30 on BSE, up 1.97 per cent from its previous close.

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