News
PNB Housing raises Rs 500 cr from IFC to fund green projects
India’s fifth largest housing finance company, PNB Housing Finance Limited, on Wednesday issued secured fixed rate NCDs to International Finance Corporation (IFC) to raise Rs 500 crore for funding green residential projects.
With this, PNB Housing has become the first HFC to issue Green Bonds successfully.
According to a press release, the funds will be used to finance green residential projects which are certified by recognised green building certification standards, including EDGE (certification programme developed by IFC).
Speaking on the occasion, Sanjaya Gupta, MD, PNB Housing Financial Ltd, said, “We are delighted to become the first housing finance company to successfully issue green bonds. This will further give a fillip to our intent to develop a committed green lending practice in the sector for a sustained growth of green loan portfolio.”
Jayesh Jain, Chief Financial Officer, PNB Housing Finance Limited, added, “As this fund will be exclusively used to support investments in green energy-efficient buildings, the same will help reduce greenhouse emissions and to curb pollution, thus, helping us to establish a market and an ecosystem for green housing construction in India.”
The press release said, PNB Housing has pre-approved more than 62 green projects across Delhi-NCR, Mumbai, Pune and Bengaluru. The retail exposure towards green buildings is already around Rs 250 crore.
-
News4 weeks ago
KW Delhi 6 Mall Onboards New Brands
-
News4 weeks ago
Commercial Realty Gets Tech Savvy: Fast Construction, Enhanced Convenience
-
News3 weeks ago
Godrej Properties Sells Rs 3k cr+ Homes of Godrej Zenith, Gurugram, within 3 days
-
News4 weeks ago
RBI’s Status Quo on Key Policy Rates to Help Maintain the Real Estate Growth Momentum, Say Industry Stalwarts
-
News2 weeks ago
Olive Announces Dhruv Kalro as Co-Founder
-
News2 weeks ago
Noida’s High-Rise Societies Face Multiple Challenges Despite Rapid Urban Growth
-
News3 weeks ago
Godrej Properties Sells 5000+ Homes of Rs 9.5 cr in Q4FY24, Bookings up 84% YoY
-
News2 weeks ago
Vestian: Domestic Investors Dominate Institutional Investments in Jan-Mar’24