New Delhi [India], August 3 (ANI): Non-banking finance company Capital Trust said on Tuesday it has entered into a pass through certificates (PTC) transaction with U GRO Capital, a technology-focused small business lending platform.
The PTC transaction is about Rs 28 crore with amortisation of the pool tenure of 20 months. The instrument is rated BBB-plus by ICRA Ltd.
The tie-up will allow Capital Trust to enhance its liquidity and build a strong capital base. The loans underlying the pool will have monthly instalments with original maturity of up to three years.
With this tie-up, Capital Trust will be able to expand its credit portfolio of income generating micro loans among rural India's underserved population.
Yogen Khosla, Chairman and Managing Director, said the arrangement will enable Capital Trust to expand its digital lending footprint to tier 3 to 5 regions primarily in northern India.
"The company will continue to enter into such tie-ups in near-term which will help in building a strong capital base with high liquidity," he said in a statement. (ANI)