PNB Housing Finance plans to raise up to Rs 1,000 crore by issuing bonds on a private placement basis. The company will issue secured redeemable non-convertible bonds in the nature of promissory notes with the face value of Rs 10 lakh each, it said in a regulatory filing. The security ‘7.25 per cent PNB Housing Finance Ltd 2019’ is for a tenor of two years, the company said. The issue opens tomorrow and closes the same day.

A subsidiary of public sector lender Punjab National Bank, PNB Housing Finance is in the business of providing home loans.

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