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| Exchange Disseminated Time | PTC India Financial Services Ltd has informed BSE regarding a Press Release dated April 24, 2012 titled " PTC India Financial Services Ltd (PFS) raises external commercial borrowing at attractive rates."
Press Release :
"PFS has raised external commercial borrowings (ECBs) from International Finance Corporation aggregating to USD 25 million. The ECBs will help in lowering the interest cost of the company significantly. The Company had entered into loan agreements with IFC during 2011 for availing the ECBs to the extent of USD 50 million to finance the eligible projects by way of loans. The ECBs are repayable in 32 quarterly installments with a three year moratorium on principal repayments. The disbursement of balance facility available shall further help in bringing down the borrowing costs of the Company during the coming years, thereby improving the spread and net interest margin. PFS had earlier received Rs. 159.60 crores through long term tax saving infrastructure bonds which would further bring down the borrowing costs." (For more details kindly refer Corporate Announcements on www.bseindia.com). |
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