PNB Housing Finance Limited has informed the Exchange regarding allotment of 37500 NCDs on January 13, 2025.
PNBHOUSING · price
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Awaiting price reaction for this filing.
PNB Housing Finance has allotted 37,500 listed, secured, rated, taxable, redeemable non-convertible debentures (NCDs) of face value Rs. 1,00,000 each, raising Rs. 375 crore in total. The NCDs were placed privately through NSE's Electronic Book Provider (EBP) platform and carry a coupon of 7.5343% per annum. The instruments have a 5-year tenure, maturing on January 13, 2031, with annual interest payments and a bullet principal repayment at maturity. The NCDs are secured by an exclusive charge on specific book debts of the company with a minimum 1x security cover, and will be listed on the Wholesale Debt Market segment of NSE.
This is a routine debt raise of Rs. 375 crore at a market-rate coupon, expanding the company's funding base without any equity dilution. For shareholders, it adds to the company's leverage but supports growth in lending; the 7.53% rate reflects current market pricing and is unlikely to materially move the stock.