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India's PNB Housing to raise 4 bln rupees via dual tranche bonds

Source : REUTERS
Last Updated: Sat, Dec 08, 2012 18:50 hrs

Dec 7 (Reuters) - India's PNB Housing Finance Ltd, a unit of Punjab National Bank, plans to raise 4 billion rupees ($73.94 million) via dual tranche bonds, two sources with direct knowledge of the deal said on Friday.

The company will raise funds through 10-year bonds at 9 percent semi-annual coupon and 10-year tier 2 bonds at 9.10 percent semi-annual coupon, the sources said.

Axis Bank, A.K. Capital, Trust Capital, Darashaw, ICICI Bank, ICICI Securities Primary Dealership, Yes Bank, Kotak Mahindra Bank are the arrangers to the deal, the sources said. ($1 = 54.0950 Indian rupees) (Reporting by Archana Narayanan; Editing by Anupama Dwivedi)



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