Mumbai, June 25: State-owned National Housing Bank (NHB) raised Rs 4 billion through an issue of non-convertible debentures to increase its tier-II capital, a senior bank official said on Wednesday. The bond has a maturity of 63 months and carries annual interest of 5.77 per cent.

The deal was finalised on Tuesday evening for value date Wednesday, the official said.
The issue, which was subscribed to by an insurance company, has been assigned a 'AAA' rating by Fitch Ltd and Care, indicating highest safety.

NHB gives refinance to mortgage lenders and regulates the sector. Bureau Report