PNB Housing Finance Limited has announced the successful allotment of 75,000 Listed, Secured, Rated, Taxable, Redeemable Non-Convertible Debentures (NCDs). The total value of this issuance amounts to ₹7,500 crore, with each NCD having a face value of ₹1,00,000. This significant fundraising exercise was conducted through a private placement via the Electronic Book Provider (EBP) platform of NSE and is expected to bolster the company’s capital base.
PNB Housing Finance Allots ₹7,500 Crore NCDs
PNB Housing Finance Limited has successfully completed the allotment of Non-Convertible Debentures (NCDs), a significant fundraising activity aimed at strengthening its capital structure. The company’s Management Committee, authorized by the Board of Directors, approved the allotment of 75,000 Listed, Secured, Rated, Taxable, and Redeemable NCDs. Each debenture has a face value of ₹1,00,000, aggregating to a total issuance of ₹7,50,00,00,000, which is ₹7,500 crore.
Issuance Details and Listing
The NCDs carry a coupon interest rate of 8.62% per annum and mature on January 07, 2030. The issuance was conducted on a private placement basis to eligible investors through the Electronic Book Provider (EBP) platform of the National Stock Exchange (NSE). The NCDs are proposed to be listed on the Wholesale Debt Market (WDM) Segment of the NSE.
Security and Repayment
PNB Housing Finance has created an exclusive charge on specific book debts of the Company as security, with a minimum security coverage of 1 time. In case of a delay in payment of interest or principal beyond three months from the due date, an additional interest of 2% per annum over the coupon rate will be payable. The redemption amount will be repaid in full at maturity on January 07, 2030.
Source: BSE
