Business
PNB Housing Finance plans to raise $400 mn via masala bonds
Wednesday, 21 February 2018 | PNS | New Delhi
PNB Housing Finance plans to raise $400 million (about Rs 2,560 crore) through masala bonds to fund building of affordable homes. Of the $400 million, World Bank's arm IFC has agreed to underwrite $150 million from its own funds while the balance would be raised through other investors, market sources said. The money will be raised via PNB Housing's masala bonds.
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