PNB Housing Finance Allots ₹300 Crore in Non-Convertible Debentures
PNB Housing Finance Ltd. announced the allotment of ₹300 crore in Listed, Secured, Rated, Taxable, Redeemable Non-Convertible Debentures (NCDs) on March 30, 2026. The allotment was approved by the company’s Management Committee and executed through a private placement via the Electronic Book Provider (EBP) platform of the National Stock Exchange of India Ltd.The offering consists of 30,000 NCDs with a face value of ₹100,000 each. The NCDs will be listed on the Wholesale Debt Market (WDM) segment of the NSE. The instruments have a tenure of 3 years, maturing on March 30, 2029.
The initial coupon rate is set at 7.10%, with subsequent rates linked to a floating rate based on the 3-Month TBill benchmark published by Financial Benchmarks India Pvt. Ltd. (FBIL), plus a spread of 187 basis points. Interest payments are scheduled semi-annually, with the first payment due on June 30, 2026. The principal amount will be repaid on March 30, 2029.
The NCDs are secured by an exclusive charge on the company's book debts with a minimum security coverage of 1 time. In the event of default in interest or principal payments, the company will be required to pay additional interest of 2% per annum over the prevailing coupon rate for the period of default.
| Sl. No. | Terms | Particulars |
|---|---|---|
| 1 | Size of the issue | 30,000 Listed, Secured, Rated, Taxable, Redeemable Non- Convertible Debentures ('Debentures') of face value of Rs. 1,00,000/- each aggregating up to Rs. 3,00,00,00,000/- (Rupees Three Hundred Crore Only). |
| 3 | Tenure of the instrument | 3 Years |
| 3 | Date of allotment | March 30, 2026 |
| 3 | Date of Maturity | March 30, 2029 |
| 4 | Coupon/interest offered | First coupon rate shall be 7.10%, thereafter, the coupon rate shall be a floating rate linked to the Benchmark Rate plus the Spread. The benchmark rate shall be 3 Month TBill as published by Financial Benchmarks India Pvt. Ltd. ('FBIL') and currently available on page https://www.fbil.org.in/#/home as on Coupon Reset Date and the Spread shall be 187 bps. |
| 5 | Schedule of payment of Coupon/interest and principal | For Principal: March 30, 2029 For Interest: June 30, 2026, September 30, 2026, December 30, 2026, March 30, 2027, June 30, 2027, September 30, 2027, December 30, 2027, March 30, 2028, June 30, 2028, September 30, 2028, December 30, 2028 and March 30, 2029. |
| 6 | Charge/Security, if any, created over the assets | An exclusive charge on the specific book debts of the Company with minimum security coverage of 1 time. |
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