SKS Microfinance completes securitization transaction worth Rs 321 crore

SKS Microfinance has concluded securitization transaction for Rs 321 crore, rated A1+ (SO) by a leading rating agency, with a major public sector bank. The transaction is possibly the first substantial securitization deal in FY14 in the microfinance sector.

The present transaction generates liquidity of Rs 321 crore for SKS Microfinance, and enables the company to extend micro loans to 475,000 rural women entrepreneurs.

SKS Microfinance (SKS) is a non-banking finance company (NBFC), registered and regulated by the Reserve Bank of India, whose mission is to provide financial services to low-income households. SKS operates across 16 states of India.