PNB Housing Finance Ltd.’s board of directors will meet on Sept. 5 to consider raising funds up to Rs 5,000 crore via non-convertible debentures, according to an exchange filing on Friday.
The NCDs are proposed to be raised with or without a green-shoe option on a private placement basis in one or more tranches, it added.
An NCD is a fixed-income instrument that provides structured returns to investors. As NCDs are unsecured and not backed by assets, the market participants evaluate the issuing company’s creditworthy and debt-servicing capacity before allotment.
