National Housing Bank places tier-II bonds for Rs 400 crore
By The bonds carry a coupon | 30 Jun 2003
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Mumbai: National Housing Bank (NHB) has said that it has privately placed tier-II bonds of Rs 400 crore.
The bonds carry a coupon rate of 5.77 per cent per annum and have a maturity of five years and three months. The bank refinanced primary lending institutions in the housing finance sector.
During the period July 2002-June 2003, it released refinance of Rs 2,700 crore, an NHB press release said. "The tier-II issue will help leverage refinance operations and increase lending limits to housing finance institutions."
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