PNB Housing to seek board nod for raising over Rs 12,000 crore

PNB Housing Finance will seek board approval for raising over Rs 12,000 crore through issuance of non-convertible debentures and masala bonds, according to a regulatory filing. The company plans to raise up to Rs 6,000 crore by way of issuance of secured and unsecured non-convertible debentures. Besides, it has plans to issue masala bonds up to $1,000 million in one or multiple tranches, the filing said. Generally, masala bonds are rupee-denominated bonds issued overseas.
 
Both proposals would be considered by the company’s board of directors during its meeting scheduled to be held on October 25.