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PNB Housing to raise $1 bn from foreign mkts in one or more tranches

The housing finance arm of the Punjab National Bank will announce the fourth quarter results on May 9

Press Trust of India  |  New Delhi 

PNB Housing Finance Ltd
Representative Image

Thursday said it will raise up to USD 1 billion (around Rs 6,954 crore) from foreign markets, and additional Rs 10,000 crore by issuing bonds.

The board meeting scheduled for May 9 will consider approval of "fund raising by way of external commercial borrowings up to USD 1 billion in one or more tranches", said in a regulatory filing.

The board will also consider the issuance of secured and unsecured non-convertible debentures aggregating up to Rs 10,000 crore in tranches, it said.

The housing arm of the will announce the fourth quarter results on May 9.

Stock of were trading 3.76 per cent down at Rs 684.95 on BSE.

First Published: Thu, May 02 2019. 14:40 IST