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Fedfina securitized MFI loan pool through a PTC deal of Rs 20.4 crore

Mumbai, January 13, 2021: Fedbank Financial Services Ltd (Fedfina) has executed a Pass Through Certificate (PTC) agreement of ₹20.4 crore with a private sector bank. Fedfina has leveraged part of its Microfinance (MFI) loan book to facilitate the deal.

PTC is a certificate issued to an investor against certain mortgaged-backed securities that lie with the issuer, and can be compared with securities such as bonds and debentures, the only difference being that these are issued against underlying securities. The interest paid to the issuer on these securities is in the form of a fixed income.

Fedfina, set-up in 2007, is a diversified NBFC registered with the Reserve Bank of India as a non-deposit-systematically important-NBFC. The company commenced operations by distributing auto and home loans for FBL. It received the NBFC license in 2010 and started gold finance outside of Kerala region in 2011, SME finance in 2012 and construction finance in 2014. The company also lends micro-finance loans, structured finance and home loans.

 

Category : Securitisation   |  21 Mar 2021   |  10:00


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