172@29@17@246!~!172@29@0@53!~!|news|business|ptc-india-financial-services-secures-rs-300-crore-term-loan-from-sbi-to-fund-business-plans-5505901.html!~!|controller|infinite_scroll_article.php

Network18 Presents

partnered by

  • Galaxy Note20 | 20 Ultra
Moneycontrol
Financial Freedom Offer: Subscribe to Moneycontrol Pro and grab benefits worth ₹15,000/-

Network18 Presents

  • partnered by
  • Galaxy Note20 | 20 Ultra
you are here: HomeNewsBusiness
Last Updated : Jul 03, 2020 06:47 PM IST | Source: PTI

PTC India Financial Services secures Rs 300 crore term loan from SBI to fund business plans

The money will be utilised for further strengthen the cash flow of the company and for onward funding to sustainable infrastructure finance projects, PFS said in a release.

PTI
Representative Image
Representative Image
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

PTC India Financial Services Ltd (PFS) on Friday said it has secured a Rs 300 crore term loan from State Bank of India, to meet its business growth needs.

The money will be utilised for further strengthen the cash flow of the company and for onward funding to sustainable infrastructure finance projects, PFS said in a release.

SBI has sanctioned us a term loan - working capital augmentation (TLWC) of Rs 300 crore with a door-to-door tenor of three years, including a moratorium of six months, with sub-limit of Rs 300 crore as investment limit for investment in commercial papers/non-convertible debentures/bonds within the overall TLWC limit, it said in a release.

Close

SBI has already given credit lines of Rs 1,400 crore to the company and now with current sanction their exposure will increase to Rs 1,700 crore and it will further diversify company's sources of borrowings, PFS said.

PFS proposes to have further alternate sources of financing like ECB, commercial paper, bonds, etc for which advance progress has already been made.
First Published on Jul 3, 2020 06:46 pm
Sections