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PFS gets Rs 1,400-cr credit facilities from SBI

Press Trust of India  |  New Delhi 

PTC India (PFS) Monday said it has received a sanction for credit facilities of Rs 1,400 crore from (SBI).

This arrangement also includes a partial credit enhancement (PCE) 400 crore, which will support Rs 2,000 crore bond issuance.

In November 2018, the allowed to provide PCE limits to 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, companies and mutual funds.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, January 07 2019. 20:20 IST