PNB Housing Finance raises Rs 2,500 cr from LIC via NCD, its 2nd this year

Mortgage lender PNB Housing Finance has raised Rs 2,500 crore from state-owned Life Insurance Corporation (LIC) through secured redeemable non-convertible debentures (NCDs), making it the second such issuance of the housing finance company in this fiscal year (FY20).
 
“This issuance is through private placement basis with a door-to-door tenure of 10 years and the proceeds will be utilised by the company for its normal course of business operations,” the housing finance company said.
 
The first issuance of NCDs of Rs 500 crore was subscribed by a foreign bank. “The amount raised from LIC will be used by the