SKS Microfinance Raises Rs 538 Crore Through Securitisation Deal

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New Delhi: SKS Microfinance has raised Rs 538.11 crore through a securitisation deal – the seventh such transaction in 2015-16.

SKS Microfinance said in a filing to the BSE on Saturday that it has “completed seventh securitisation transaction during 2015-16 for a pool value of Rs 538.11 crore”.

With this transaction, the total sum of securitisation completed during the current fiscal year (year-to-date) is Rs 2,319.93 crore, it said.

The entire pool qualifies for priority treatment as per the Reserve Bank of India’s priority sector lending guidelines.

“The pool has been rated AA (SO) by a leading rating agency, signifying a high degree of safety regarding timely servicing of financial obligations. Such instruments carry a very low credit risk,” it added.

SKS Microfinance added that it has also assigned a pool of loan receivables of an aggregate value of Rs 506.55 crore to one of the largest public sector banks on direct assignment basis as per guidelines prescribed by the RBI.

SKS Microfinance is a non-banking finance company (NBFC) regulated by the RBI.