PNB Housing to seek shareholders' nod to raise Rs 45,000 cr through NCDs

Bonds/non-convertible debentures constitute significant portion of company's total borrowings, says state-owned lender

PNB Housing Finance said it will seek shareholders' approval next month to raise up to Rs 45,000 crore through debt securities. The company's annual general meeting is scheduled to take place on August 5, 2020.

Shareholders are being requested to authorise the board of directors to offer, from time to time, the subscription of redeemable, secured/unsecured non-convertible debentures (NCDs) aggregating up to Rs 45,000 crore in one or more tranches, PNB Housing Finance said in a regulatory filing.

The housing finance company may issue the bonds through private placement or by way of public issue.

As on March 31, 2020,