PNB Housing Finance has raised $265 million (around Rs 1,853 crore) through external commercial borrowing (ECB). The fund, raised in late December, will be utilised for normal on-lending operations, the company said on Wedensday.
With this, it has raised $465 million (Rs 3,324 crore) through ECBs during the third quarter, managing director and chief executive Sanjaya Gupta said, adding the forex borrowing has a five-year tenor.
He said the company raised about Rs 20,000 crore at competitive rates during the third quarter. This includes long-term and short-term facilities through deposits (Rs 1,400 crore), ECBs ($465 million), NHB refinance (Rs 2,000 crore), securitisation (Rs 2,700 crore) and bank borrowings (Rs 1,725 crore).