PNB Housing Finance to tap bond markets after nearly 2 years

PNB Housing Finance plans to raise funds via private placement of bonds for the first time in nearly two years, three merchant bankers said.

The housing finance company aims to raise up to Rs 500 crore ($60.98 million) through sale of bonds maturing in 18 months and three years.

Also Read: Bond market moves, in times of sticky yield & high interest rates

It has invited bids for both the issues on Tuesday, they said.

In September 2021, the company had raised Rs 325 crore through the sale of three-year bonds at 6.50 per cent coupon.

($1 = Rs 81.99)