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PNB Housing Finance to raise Rs710 crore via bonds

LiveMint logoLiveMint 25-09-2017 PTI

New Delhi: PNB Housing Finance is looking at raising Rs710 crore by issuing debt securities on private placement basis on Tuesday.

The subsidiary of the country’s second largest bank state-owned Punjab National Bank (PNB) said it will issue secured, taxable, rated and listed redeemable non-convertible debentures in a private placement mode on Tuesday, September 26.

The issue will close on the same day. The bonds with face value of Rs10 lakh each carry coupon rate of 7.28% per annum and would be up for redemption on 26 September, 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% down at Rs1,516.80 on BSE.

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