PNB Housing Finance is looking at raising Rs 710 crore by issuing debt securities on private placement basis tomorrow. The subsidiary of the country’s second largest bank state -owned PNB said it will issue secured, taxable, rated and listed redeemable non-convertible debentures in a private placement mode tomorrow, September 26. The issue will close on the same day.
The bonds with face value of Rs 10 lakh each carry coupon rate of 7.28 per cent per annum and would be up for redemption on September 26, 2019. The company is engaged in the business of providing home loans, construction loans, residential plot loans among others. It did not specify how it intends to use the proceeds raised from this bond issue. Stock of PNB Housing Finance closed 2.72 per cent down at Rs 1,516.80 on BSE.