Moneycontrol Bureau
Shares of PTC India Financial Services (PFS) advanced 2.8 percent intraday Friday on signing external commercial borrowing (ECB) loan agreement with Austria Bank.
"PFS has signed an agreement with Oesterreichische Entwicklungs Bank AG (OeEB), the Development Bank of Austria for ECB of USD 20 million at highly competitive interest rate," the infrastructure finance company says in its filing.
PFS will utilise ECB towards growth of its renewable loan portfolio and help it in lowering interest cost which has total revenue of about 10 years including two-year moratorium on principal repayments.
"With this collaboration, we will expand finance portfolio for renewable projects in India," says Ashok Haldia, managing director and CEO of the non-banking finance company.
At 11:12 hours IST, the scrip of PTC India Financial Services was quoting at Rs 42.15, up Rs 0.85, or 2.06 percent on the BSE.Posted by Sunil Shankar Matkar
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