PNB Housing Finance Limited (PNBHFL), a leading housing finance company, has raised $ 265 million (Rs 1,853 crore) through fresh External Commercial Borrowing (ECB).
The funds will be utilised for normal on-lending operations of the company, said Sanjaya Gupta, Managing Director & CEO.
Gupta said PNBHFL has in aggregate raised $ 465 million (Rs 3,324 crore) through ECB during third quarter of 2018-19 of five year tenure. The facility has come at a landed cost which is much below the domestic pricing for similar tenor, he said.
In spite of the market headwinds, PNB Housing has successfully raised about Rs 20,000 crore in aggregate at competitive interest rates during Q3 of FY2018-19. This includes both long-term and short-term facilities through deposits, ECBs, NHB Refinance, Securitisation (Direct Assignment route), Bank Borrowings and Commercial Papers (CPs).