PTC India Financial Services (PFS) Monday said it has received a sanction for credit facilities of Rs 1,400 crore from State Bank of India (SBI).
This arrangement also includes a partial credit enhancement (PCE) facility of Rs 400 crore, which will support Rs 2,000 crore bond issuance.
In November 2018, the Reserve Bank of India allowed banks to provide PCE limits to non-banking finance companies (NBFCs) in view of cash crunch faced by such entities.
The PCE mechanism will enhance the rating of the bond issue and allow NBFCs to raise funds at lower cost. This would also bring additional comfort among investor community including pension funds, insurance companies and mutual funds.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app