Centrum Financial Services raises Rs50 crore through PTCs

Date posted: Tuesday 15 December 2020

Centrum Financial Services Ltd (CFSL), the NBFC arm of financial services major Centrum Group, has raised Rs 50 crore by securitising its supply chain loan book, which was acquired from L&T Finance two years ago. The funding was raised through Pass Through Certificates (PTCs) issued by a Special Purpose Vehicle of CFSL, which had received a CRISIL A1+ (SO) credit rating (highest rating for a PTC)The business, which provides financing with an average ticket size of Rs50 lakh to Rs 1.5 crore to MSME supply chain dealers and vendors, has raised the funding from Indian high networth individuals, family offices and treasuries among others. However, the names of the investors could not be immediately ascertained.

(Hindu Business Line)