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PNB Housing Finance is planning to raise USD 1 billion via external commercial borrowing (ECB) window, for funding business expansion.
The company basically offers housing and non-housing loans to retail customers. It also offers construction finance loans to real estate developers for residential housing. In a regulatory filing to the exchanges the company stated that, the board in its meeting held has given approval to raise the funds by way of external commercial borrowings for not exceeding USD 1 billion.
Furthermore, the fund will be raised in one or more tranches to increase its medium term resources.
