SKS SECURITISES `321CR LOANS

SKS Microfinance Limited on Friday said it has completed securitisation of `321 crore with four banks.

These transactions come close on the heels of two transactions worth `243 crore and `354 crore in January and February respectively. The six transactions are worth `918 crore. In addition, SKS had obtained term loans worth `240 crore from three public sector banks. All these transactions add up to a debt inflow of `1,158 crore.

Two rated-pool assignment transactions worth `221 crore and two nonrated assignment transactions worth `100 crore from two public sector and two private banks total to `321 crore, it said.

The company, however, did not disclose the names of the banks citing non-disclosure agreements.

The present set of four transactions worth `321 crore has been obtained at an annual interest rate of 12 per cent, priced 150 basis points lower than the previous two transactions, it added.

Commenting on this, Mr S. Dilli Raj, CFO of SKS Microfinance, said “Fund flow has been gaining momentum in recent months with the overall environment turning positive for the microfinance sector.”

He said the RBI’S and the Central government’s actions on creating new regulatory framework for microfinance companies are responsible for such new optimism about the sector.