Mar 19, 2016 05:02 PM IST | Source: PTI

SKS Microfinance raises Rs 538 cr through securitisation deal

In a BSE filing today, SKS Microfinance said it has "completed seventh securitisation transaction during 2015-16 for a pool value of Rs 538.11 crore".

SKS Microfinance raises Rs 538 cr through securitisation deal

SKS Microfinance has raised Rs 538.11 crore through a securitisation deal -- the seventh such transaction in 2015-16.

In a BSE filing today, SKS Microfinance said it has "completed seventh securitisation transaction during 2015-16 for a pool value of Rs 538.11 crore".

With this transaction, the total sum of securitisation completed during the current fiscal (year-to-date) is Rs 2,319.93 crore, it said.

The entire pool qualifies for priority treatment as per the Reserve Bank's priority sector lending guidelines.

"The pool has been rated AA (SO) by a leading rating agency, signifying a high degree of safety regarding timely servicing of financial obligations. Such instruments carry a very low credit risk," it added.

SKS Microfinance added that it has also assigned a pool of loan receivables of an aggregate value of Rs 506.55 crore to one of the largest public sector banks on direct assignment basis as per guidelines prescribed by RBI.

SKS Microfinance is a non-banking finance company regulated by the Reserve Bank of India.

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