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PNB Housing Finance to raise 10.25B rupees in bond issue

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PNB Housing Finance to raise 10.25B rupees in bond issue

PNB Housing Finance Ltd. is issuing nonconvertible bonds for a total amount of 10.25 billion Indian rupees including a green shoe option.

The bonds were priced with a semiannual fixed coupon rate of 7.46% for a tenure of three years and three months, according to a Jan. 30 press release.

The issue will open Jan. 30 and close Jan. 31.

The bonds will be listed on the National Stock Exchange.

HDFC Bank is the lead arranger of the issue along with Kotak Mahindra Bank, ICICI Bank, Darashaw & Co. Pvt Ltd., Tipsons Consultancy Services Pvt. Ltd. and Trust Investment Advisors Pvt. Ltd.

As of Jan. 30, US$1 was equivalent to 67.79 Indian rupees.