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PTC India Financial Inks Loan Pact With OeEB

PTC India Financial Services Limited (PFS), a leading infrastructure finance company, has signed an agreement with Oesterreichische Entwicklungs Bank AG (OeEB), the Development Bank of Austria for External Commercial Borrowing of $20 million at highly competitive interest rate

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PTC India Financial Services Limited (PFS), a leading infrastructure finance company, has signed an agreement with Oesterreichische Entwicklungs Bank AG (OeEB), the Development Bank of Austria for External Commercial Borrowing (ECB) of $20 million at highly competitive interest rate.

As per the agreement, PFS will utilize the ECB towards growth of its renewable loan portfolio and help it in lowering its interest cost which has total tenure of about 10 years including two year moratorium on principal repayments.

“We are delighted to announce our association with OeEB which provides finance to private companies in developing countries and emerging markets. With this collaboration, we will expand our finance portfolio for renewable projects in India,” said Ashok Haldia, managing director and CEO, PTC India Financial Services Limited.

PFS offers varieties of financial products to infrastructure companies in the energy value chain. It also provides fee-based services such as loan syndication and underwriting.