PNB Housing Finance Limited has informed the Exchange regarding allotment of 40000 NCDs at its meeting held on May 20, 2025.
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PNB Housing Finance has allotted 40,000 listed, secured, rated, taxable, redeemable Non-Convertible Debentures (NCDs) with a face value of Rs. 1,00,000 each, totalling Rs. 400 crore. The NCDs were issued through private placement on May 20, 2025, and carry a coupon of 7.53% per annum with a 5-year tenure maturing on May 20, 2030. Interest will be paid annually, and the principal will be repaid in full at maturity. The NCDs will be listed on the Wholesale Debt Market (WDM) segment of NSE and are secured by an exclusive charge on specific book debts of the company with a minimum 1x security coverage. A 2% additional interest is payable in case of default.
The Rs. 400 crore raise strengthens PNB Housing Finance's funding base at a competitive rate of 7.53%, supporting its lending operations. For equity shareholders, the dilution is nil as these are debt instruments, though higher debt levels mean continued interest obligations.