PTC India Financial services (PFS) on Monday said it has been sanctioned fresh long-term loan of Rs 500 crore from Bank of India for onward lending to infrastructure projects.
The loan for a period of 10 years has been sanctioned at an interest rate of 8.50 per cent per annum, the company said.
"We will use this loan to further expand our lending portfolio in infrastructure projects and other operational requirements," said PFS Managing Director and CEO Pawan Singh.
Singh further said the company's portfolio quality has been improving with each quarter passing and in the last one year it has resolved stressed assets considerably.
PFS is structured as a one-stop shop' for financing of energy value chain and select sectors of infra projects like power, road, port, logistics with focus on renewable energy and sustainable development.
It is a non-deposit taking NBFC classified as Infrastructure Finance Company (IFC) by the RBI and is listed on the BSE and NSE.
Disclaimer: No Business Standard Journalist was involved in creation of this content
