PNB Housing to consider ~80 bn debt issue

PNB Housing Finance, a subsidiary of Punjab National Bank, is mulling a proposal to raise up to ~80 billion in one or more tranches by issuing debt securities. The decision will be taken at the company’s board meeting scheduled on Thursday. “Board meeting to consider the proposal of fundraising by way of debt issue,” the company said in a regulatory filing. The board will consider issuance of “secured and unsecured non-convertible debentures aggregating up to an amount of ~80 billion in one or multiple tranches,” it said. The company had conducted a non-deal road show for debt investors on March 5-6 in Hong Kong and on March 7 in Singapore.