LIC to take part in bonds issue of PTC India Financial Services Ltd

IT has been informed by PTC India Financial Services Limited that LIC has agreed to participate upto Rs.250 crore in its first tranche of bonds of Rs.580 crore which would be backed by partial credit enhancement (PCE) of SBI to the extent 20% of initial issued bond amount. With an aim of providing liquidity support to NBFCs, RBI in November 2018 has allowed banks to provide PCE facility to NBFCs in order to support their bond issuance. PFS became the first NBFC – IFC in the country in order to avail such facility from SBI to the extent Rs.400 crore to support its bond issuance upto Rs. 2,000 crore. The first tranche of PFS proposed bond of Rs.580 crore, with structured repayment in ten year and backed by SBI PCE to the extent 20% of bond issuance amount, has been rated as AA+ (SO) by CRISIL. Last trading in BSE recorded shares of PTC INDIA FINANCIAL SERVICES LTD. at Rs.12.94 as compared to the previous close of Rs. 12.56. The total number of shares traded during the day was 59141 in over 135 trades.