SKS Microfinance has completed the fifth microfinance securitization amounting Rs 55.56 crore during the current financial year. With this, the total sum of securitizations completed during FY14 (YTD) is Rs 727.37 crore. The first four substantial securitizations were Rs 321 crore (on September 30), Rs 80.81 crore (on December 11), Rs 215 crore (on December 19) and Rs 55 crore (on December 30).
The company has downloaded the receivables from micro loans extended to more than 60,000 rural women entrepreneurs to a Special Purpose Vehicle, and Pass Through Certificates (PTCs) have been purchased by a private sector bank. The entire pool qualifies for priority sector treatment as per RBI’s priority sector lending guidelines.
The pool is rated A1+ (SO) by a leading rating agency signifying ‘a very strong degree of safety regarding timely servicing of financial obligation’. Such instruments carry the lowest credit risk.
The company has downloaded the receivables from micro loans extended to more than 60,000 rural women entrepreneurs to a Special Purpose Vehicle, and Pass Through Certificates (PTCs) have been purchased by a private sector bank. The entire pool qualifies for priority sector treatment as per RBI’s priority sector lending guidelines.
The pool is rated A1+ (SO) by a leading rating agency signifying ‘a very strong degree of safety regarding timely servicing of financial obligation’. Such instruments carry the lowest credit risk.
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