PNB Housing Finance receives sanction of Rs 3,500 crore by NHB

PNB Housing Finance has been sanctioned Rs 3,500 crore refinance facility from regulator National Housing Bank (NHB), the company said in a media release. Sanjaya Gupta, managing director of the company said, “The NHB refinance are of a maturity of up to 15 years hence shall help further enhance our ALM. This is yet another long-term source of borrowings followed to ECB of $ 200 million we raised in the current, challenging environment, driven by our strong fundamentals." The funds will be utilised for the specific sector wise disbursements/end-uses as per norms of the respective NHB refinance schemes. "With availment of these funds the share of long term borrowings will increase in the overall borrowings and aid our constant endeavour to keep short term money at levels of 12% and below,” said Gupta.