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PFS signs agreement with Austria Development Bank for $20 million ECB loan

On Friday, the infrastructure finance company PTC India Financial Services said that it has signed a loan agreement for external commercial borrowing (ECB) of USD 20 million with OeEB, the Development Bank of Austria.

According to PFC, the arrangement is at a “highly competitive” interest rate. PFC, as per the agreement, will be utilizing the ECB for development of its renewable loan portfolio and to lower its interest cost.

In a release it said that the total tenure of the loan is about 10 years that includes a 2 year moratorium on principal repayment.

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