PNB Housing plans Rs 500-cr for realty projects

    PNB Housing Realty Project
    In order to finance realty projects in a big way, PNB Housing Finance has recently generated Rs. 500-cr by issuing bonds to World Bank arm International Finance Corporation (IFC) for funding its green residential projects, said Managing Director, PNB Housing, Sanjaya Gupta, claiming that PNB Housing Finance has issued secured fixed rate NCDs to IFC to raise Rs 500-cr for funding green residential projects and become the first housing finance company (HFC) in the country to successfully issue green bonds. The funds will be used to finance green residential projects which are certified by recognised green building certification standards, including EDGE -- certification programme developed by IFC. The move will further give a fillip to its intent to develop a committed green lending practice in the sector for a sustained growth of green loan portfolio where environment conservation is a priority area and the end users are also realising the need for creating healthier neighbourhoods, he claimed.
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