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| Exchange Disseminated Time | PTC India Financial Services Ltd has informed BSE regarding a Press Release titled "PFS inks ECB loan agreement with IFC for funding renewable projects in India".
Press Release:
"PTC India Financial Services Ltd. (PFS) has signed an agreement for External Commercial Borrowing (ECB) of US$ 25 Million from International Finance Corporation (IFC) on 28th April 2011. PFS has already signed agreement for ECB of US$ 26 million with DEG. PFS intends to sign agreement for another ECB of US$ 25 million with IFC, by end of this quarter. PFS, an Infrastructure Finance Company, can borrow up to 50% of its Owned Funds from External Commercial Borrowings under automatic route.
PFS is an Indian non-banking finance institution promoted by PTC to make principal investments in, and provide debt and other financing solutions, for companies with projects across the energy value chain. During the year 2010-11, PFS made loan disbursement of Rs. 801 Crores as against Rs. 246 Crore in 2009-10 to power projects across India. Cumulatively, as on 31st March, 2011 the effective loan sanction of PFS was Rs. 3046 Crore and equity sanction was Rs. 564 Crore." |
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