PNB Housing looks to IFC to anchor debut Masala

masala curry px230
By Morgan Davis
20 Feb 2018

India’s PNB Housing Finance is preparing to make its debut in the offshore rupee bond market and has turned to the International Finance Corp (IFC) to make sure the deal goes off without a hitch.

PNB HFL plans to sell a $400m-equivalent five year bond this year, a source at the company said. But investors will not be expected to take all of that. IFC has proposed to buy around $150m of the Masala bonds, citing PNB Housing Finance’s affordable and green housing ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial