ALSO READPNB not looking to sell its 7% stake: PNB Housing Finance MD Why some brokerages have turned positive on Punjab National Bank Need a home loan for Rs 30 lakh? SBI is offering it at 8.35 percent PNB Housing hits new high; stock zooms 100% against IPO price Different loan benchmarks present a tough choice for home buyers
PNB Housing Finance plans to raise up to Rs 1,000 crore by issuing bonds on a private placement basis. The company will issue secured redeemable non-convertible bonds in the nature of promissory notes with the face value of Rs 10 lakh each, it said in a regulatory filing. The security '7.25 per cent PNB Housing Finance Ltd 2019' is for a tenor of two years, the company said. The issue opens tomorrow and closes the same day. A subsidiary of public sector lender Punjab National Bank, PNB Housing Finance is in the business of providing home loans. Stock of PNB Housing Finance closed 1.98 per cent down at Rs 1,593.50 apiece on BSE.