By Susanna Moon
Chicago, July 25 – PNB Housing Finance Ltd. notified the Bombay Stock Exchange that it plans to issue three- and five-year series 36 secured redeemable bonds on Thursday.
Specifically, the issuer plans to sell Rs. 8 billion of 7½% bonds due in three years, one month and 19 days; Rs. 7 billion of 7.59% five-year bonds; and Rs. 2 billion of zero-coupon bonds due in three years and seven days with an internal rate of return of 7½%.
The bonds will be issued at par of Rs. 1 million each by way of private placement under the three different options, according to a company notice.
PNB is a New Delhi-based housing loan company.
| Issuer: | PNB Housing Finance Ltd.
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| Issue: | Secured redeemable bonds in the form of promissory notes
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| Amount: | Rs. 17 billion
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| Settlement date: | July 27
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| Ratings: | CARE: AAA
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| India Ratings: AAA
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| Listing: | Wholesale Debt Market segment of the National Stock Exchange of India Ltd.
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| Option A bonds
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| Amount: | Rs. 8 billion
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| Maturity: | Sept. 15, 2020
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| Coupon: | 7½%
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| Option B bonds
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| Amount: | Rs. 7 billion
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| Maturity: | July 27, 2022
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| Coupon: | 7.59%
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| Option C bonds
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| Amount: | Rs. 2 billion
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| Maturity: | Aug. 3, 2020
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| Coupon: | 0% with internal rate of return of 7½%
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