Description

Trading suspended in PNB perpetual AT1 bonds from January 7, 2026 due to redemption and interest payment with record date set for the same day.

Summary

BSE has announced the suspension of trading in perpetual Additional Tier 1 (AT1) bonds of Punjab National Bank (PNB) effective January 7, 2026. The suspension is due to the bank setting a record date for bond redemption and interest payment. Trading members are advised not to deal in the specified bonds from the no-dealings date.

Key Points

  • Trading suspended for PNB 8.60% Perpetual AT1 Private bonds (ISIN: INE160A08183, Code: 960430)
  • Record date set for January 7, 2026
  • Purpose: Redemption of bonds and payment of interest
  • No dealings permitted from January 7, 2026 onwards
  • Notice number: DR-793/2025-2026
  • Notice issued by Marian Dsouza, Assistant Vice President – Listing Compliance and Operations

Regulatory Changes

No new regulatory changes introduced. This is a standard corporate action notification for bond redemption.

Compliance Requirements

  • Trading members must not execute any transactions in the specified PNB bonds from January 7, 2026
  • All trading members must take note of the suspension and communicate to their clients
  • Members should update their trading systems to prevent inadvertent trades in the suspended security

Important Dates

  • Notice Date: January 1, 2026
  • Record Date: January 7, 2026
  • No Dealings From: January 7, 2026

Impact Assessment

Market Impact: High - The suspension affects trading liquidity in PNB’s perpetual AT1 bonds. Bondholders will not be able to trade these securities from the no-dealings date.

Investor Impact: High - Investors holding these bonds should be aware that exit options through secondary market trading will not be available from January 7, 2026. Only those holding bonds on the record date will be eligible for interest payment and redemption proceeds.

Operational Impact: Medium - Trading members need to update their systems and inform clients about the trading suspension to prevent failed transactions.

Impact Justification

Complete trading suspension of perpetual AT1 bonds due to redemption affects bondholders and market liquidity