Description
Trading suspended in PNB's 8.60% Perpetual AT1 Bond from January 7, 2026 due to redemption and interest payment with record date set for the same day.
Summary
BSE has notified trading members about the suspension of trading in Punjab National Bank’s 8.60% Perpetual AT1 Private Bond (ISIN: INE160A08183, Code: 960430) effective January 7, 2026. The suspension is due to the bank setting a record date for bond redemption and interest payment purposes.
Key Points
- Bond affected: PNB 8.60% Perpetual AT1 Private Bond
- ISIN: INE160A08183
- BSE Code: 960430
- Record date: January 7, 2026
- No dealings permitted from: January 7, 2026
- Purpose: Redemption of bonds and payment of interest
- Notice number: DR-793/2025-2026
- Trading members advised not to deal in these bonds
Regulatory Changes
No regulatory changes introduced. This is a standard corporate action notification for bond redemption.
Compliance Requirements
- Trading members must not execute any trades in the specified PNB bond from January 7, 2026
- Trading members are required to take note of this suspension and inform their clients accordingly
- All dealing in the bond code 960430 must cease from the specified date
Important Dates
- Notice Date: January 1, 2026
- Record Date: January 7, 2026
- No Dealings From: January 7, 2026
Impact Assessment
Market Impact: High - Complete trading suspension affects liquidity for bondholders who may need to exit their positions. The redemption of a perpetual AT1 bond is significant as these instruments typically have no maturity date.
Investor Impact: High - Bondholders will receive redemption proceeds and final interest payment based on holdings as of the record date. Those looking to trade this security must complete transactions before January 7, 2026.
Operational Impact: Trading members must update their systems to block trades in this specific bond and communicate the suspension to clients holding or interested in this instrument.
Impact Justification
Complete trading suspension on a perpetual AT1 bond due to redemption affects bondholders' liquidity and requires immediate attention from trading members.