Punjab National Bank (PNB) said it has raised Rs 1,500 crore by issuing Basel III compliant bonds on private placement basis. The bank has issued and allotted Rs 1,500 crore tier II (Basel III compliant) capital bonds at a coupon of 7.10 per cent per annum on private placement basis, PNB said in a regulatory filing. The bank has allotted a total of 15,000 bonds to three allottees