The company’s annual general meeting is scheduled to take place on August 5, 2020.
Shareholders are being requested to authorise the board of directors to offer, from time to time, the subscription of redeemable, secured/unsecured non-convertible debentures (NCDs) aggregating up to ₹45,000 crore in one or more tranches, PNB Housing Finance said in a regulatory filing.
The housing finance company may issue the bonds through private placement or by way of public issue.
As on March 31, 2020, bonds/non-convertible debentures constitute significant portion of the total borrowings of the company, it said.
Borrowings through these instruments facilitate the raising of resource in a highly flexible and requirement driven manner, it added.
“The company intends to raise long term funds through bonds in the current year as well to meet lending requirements. It is therefore proposed that the members authorise the board to borrow money through NCDs up to ₹45,000 crore outstanding at any time through private placement offer letter and/or by way of public issue from time to time,” PNB Housing Finance said.
