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NHB mops up Rs 300 crore

New Delhi, Jan. 27 (PTI): The National Housing Bank has mopped up Rs 300 crore through tax-free priority sector bonds and plans to raise another Rs 200 crore soon. The first tranche of Rs 300 crore privately placed bond issue, with a coupon rate of 5.15 per cent and a maturity period of seven years, was fully subscribed, NHB executive director R.V. Verma said.

The bonds, which opened for subscription on January 14 and closed on January 24, have a call option at the end of five years.

After the first issue, the apex housing bank would soon mobilise the remaining Rs 200 crore soon, he said.

The government had made a special allocation for tax-free bonds worth Rs 500 crore to NHB for providing loans to earthquake victims of Gujarat.

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