SBI sanctions Rs 300 crore term loan to PFS

PTC India Financial Services Limited (PFS) on Wednesday said that State Bank of India (SBI) has sanctioned a Rs 300 crore term loan for working capital augmentation.

The loan has a tenor of three years including a moratorium of six months, an official statement said.

The money to be received from current sanction will be utilised to strengthen the cash flow of the company and for onward funding to sustainable infrastructure finance projects, it said.

SBI has already given credit lines of Rs, 1,400 crore (current outstanding of around Rs.999.74 crore) and now with current sanction it’s exposure will increase to Rs 1,700 crore.

PFS proposes to have further alternate sources of financing like ECB, Commercial Paper and bonds.

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