SKS get another securitisation deal for Rs 200 cr
   

SKS get another securitisation deal for Rs 200 cr

SKS get another securitisation deal for Rs 200 cr Mumbai: The only listed Microfinance firm SKS Microfinance Thursday said it has received sanctions from lenders to securitise Rs 200 crore worth of its recievables.

"This Rs 200-crore sanction from two different entities are SKS's 10th and 11th assignment/securitization transactions after the AP MFI Act," the company said in a statement here.

SKS has also drawn down Rs 162.1 crore as the second tranche of the recent Rs 354 crore securitization sanction, the company said.

This deal comes within a fortnight of the Hyderabad-based MFI securing a deal to securitise Rs 354 crore of receivables from 18 states, except Andhra, making the February 27 deal the largest rated pool assignment transaction in the microfinance industry.

SKS Microfinance has also drawn down Rs 162.1 crore as the second tranche of the recent Rs 354 crore sanction, which is the largest such deal in the MFI history, obtained from a public sector bank.

The Rs 200-crore sanction from two different entities are SKS Microfinance Limited's 10th and 11th assignment/ securitization transactions post the AP MFI Act.

Out of this a rated pool assignment of Rs 162.1 crore has rated Care A1+ (highest safety). The pool comprises receivables from 1,55,579 micro women borrowers from the weaker section.

Pool receivables are identified from 18 non-Andhra markets where SKS operates. The pool is well diversified with a single branch accounting for under 1 percent of the pool, with the average loan amount being Rs 11,177, the company said, adding they have a robust collection efficiency of over 98 percent.

PTI
First Published: Thursday, March 15, 2012, 14:38
 
 
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S.K.S. Microfinance is the best Microfinance becouse fallop govt.act of other MFI.& these member polices very strong
vanshpati saket - m.p.(rewa)
S.K.S. Microfinance is the best Microfinance
vanshpati saket - m.p.(rewa)
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