PNB Housing Finance to mop up $1 billion

PNB Housing Finance Thursday said it will raise up to $1 billion (around Rs 6,954 crore) from foreign markets, and additional Rs10,000 crore by issuing bonds. The board meeting scheduled for May 9 will consider approval of "fund raising by way of external commercial borrowings up to $1 billion in one or more tranches", PNB Housing Finance said in a regulatory filing. The board will also consider the issuance of secured and unsecured non-convertible debentures aggregating up to Rs 10,000 crore in tranches, it said.