PNB Housing Finance Ltd Approves Allotment of 30,000 NCDs Worth Rs. 300 Crore

PNB Housing Finance Ltd has approved the allotment of 30,000 Listed, Secured, Rated, Taxable, Redeemable NCDs of face value of Rs. 1,00,000 each, aggregating to Rs.300 Crore. The allotment has been made through private placement via the Electronic Book Provider (EBP) platform of NSE. The NCDs have a tenure of 3 years, maturing on March 30, 2029. The first coupon rate is 7.10%, and thereafter, the coupon rate will be a floating rate linked to the Benchmark Rate plus the Spread. The benchmark rate is 3 Month TBill as published by Financial Benchmarks India Pvt. Ltd. and the Spread is 187 bps. The interest will be paid semi-annually and the principal will be repaid in full at maturity.