PNB Housing raises $200 mn via ECBs

Mortgage lender PNB Housing Finance Saturday said it had raised $200 million (about ₹1,470 crore) through external commercial borrowing (ECB), its first under the automatic route of the RBI.

This year, the Reserve Bank of India has allowed housing finance companies to borrow through ECB up to $750 million annually under the automatic route, the company said.

The funds will be used for normal business operations. “This will not only enhance our liquidity profile but also further enhance our ALM position as the facility is for 5 years,” PNB Housing added.

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Printable version | Jan 17, 2022 12:29:30 PM |

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