PNB Housing Finance has raised Rs 2,500 crore through the issue of secured redeemable non-convertible debentures (NCDs). This issuance is through private placement basis with a door to door tenure of 10 years and the proceeds will be utilized by the company for its normal course of business operations.
This issuance of Rs 2,500 crores has been subscribed by Life Insurance Corporation of India (LIC). This facility will augment company’s liquidity position and further strengthen our ALM position across buckets.
PNB Housing Finance is a registered housing finance company with National Housing Bank (NHB). They provide housing loans to individuals and corporate bodies for construction, purchase, repair and up-gradation of houses.
