PNB Housing Finance Limited announced the approval for the allotment of 50,000 Listed, Secured, Rated, Taxable, Redeemable Non-Convertible Debentures (NCDs). The total value of this issuance aggregates to ₹5,00,00,00,000 (₹500 Crore). These NCDs, with a face value of ₹1,00,000 each, were allotted via private placement through NSE’s Electronic Book Provider platform. The tenor for these instruments is 5 Years, with a coupon rate of 8.135% p.a.
PNB Housing Finance Approves Major NCD Issuance
PNB Housing Finance Limited has officially approved the allotment of a significant tranche of Non-Convertible Debentures (NCDs). The Management Committee, empowered by the Board of Directors, sanctioned the issuance of 50,000 Listed, Secured, Rated, Taxable, Redeemable NCDs. Each debenture carries a face value of ₹1,00,000, with the total aggregate value of the approved allotment reaching ₹5,00,00,00,000 (Rupees Five Hundred Crore Only).
Key Instrument Details
These NCDs are part of the 8.135% PNB Housing Finance Limited 2031 Series LXXVIII- Issue and were allocated on a private placement basis to eligible investors. The allotment was executed through the Electronic Book Provider (EBP) platform of the National Stock Exchange (NSE).
Instrument Specifications:
- Type: Listed, Secured, Rated, Taxable, Redeemable Non-Convertible Debentures (NCDs)
- Number of Debentures: 50,000
- Face Value per Debenture: ₹1,00,000
- Aggregate Value: ₹5,00,00,00,000 (₹500 Crore)
- Tenure: 5 Years
- Date of Allotment: September 17, 2026
- Date of Maturity: September 17, 2031
- Coupon Rate: 8.135% per annum
Listing and Security Details
The NCDs are proposed to be listed on the Wholesale Debt Market (WDM) Segment of the National Stock Exchange of India Limited (NSE). An exclusive charge has been created over the specific book debts of the Company, with a minimum security coverage of 1 time. In case of any default in payment of interest or redemption of principal within three months of the due date, an additional interest of 2% per annum over the coupon rate will be payable by the Company.
Redemption and Payment Schedule
The principal amount of the debentures will be repaid in full at maturity on September 17, 2031. Interest payments are scheduled semi-annually, with the first interest payment due on September 17, 2027, and subsequent payments on September 17 of each year until 2030, with the final interest payment coinciding with the principal repayment on September 17, 2031.
Source: BSE
