National Housing Bank
(NHB) tap the market on yesterday with a public offering of tax-free bonds.
The housing finance
regulator NHB use all the funds
mobilised in the nature of non-convertible debentures to promote low-income
housing in the urban areas, Mr.R.V. Verma, Chairman and Managing Director, NHB,
told.
The Central govt.
allowed NHB to raise Rs. 5,000 crore through tax-free bonds during 2012-13, of
which it can mobilise up to Rs 3,750 crore through this public issue, which
will close on March 15, 2013.
Each bond will have a
face value of Rs. 10,000 and a tenure of 10 years. For qualified institutional
buyers, corporates and high networth individuals, the interest rate offered is
6.82%.
For retail investors
(those investing under Rs 10 lakh), the rate is 7.32%. Interest will be paid
annually.
National Housing Bank
Core 5-A, India Habitat Centre,
Lodhi Road, New Delhi-110 003 (PBX) 011-2464 9031-35
Fax no : 011 - 2464 9030
E-mail: ho@nhb.org.in
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