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PNB Housing Finance bonds: PNB Housing’s bond investors not worried, yields drop up to 211 bps

PNB Housing bonds carrying a coupon of 8.58 per cent maturing in Could, 2023, are nonetheless decrease by 87 foundation factors since Could 4 this yr.

Synopsis

PNB Housing Finance is rated AA by ICRA, with a destructive outlook. To make sure, secondary market trades are usually not so liquid, with trades starting from a couple of lakhs to Rs 270 crore lots. Yields fluctuate relying on the tenor of the problem.

MUMBAI: Debt patrons aren’t actually frightened that PNB Housing Finance’s newest fundraising is seemingly caught in a authorized labyrinth. Yields on bonds bought by the house financier dropped as much as 211 foundation factors between April and July within the secondary markets, suggesting the presence of sufficient keen patrons.

Current buyers, together with a number of high 10 mutual funds, may log mark-to-market features. Just a few giant insurance coverage and pension funds additionally purchased

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https://economictimes.indiatimes.com/markets/bonds/pnb-housings-bond-investors-not-worried-yields-drop-up-to-211-bps/articleshow/84317086.cms

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