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India Infoline securitises gold loans worth Rs 123 cr

By Religare
|

Financial services provider, India Infoline Finance Ltd has securitised gold loans worth Rs 123 crore out of its asset portfolio to raise resources, said the media report.

The rating agency ICRA has assigned an 'A1+' rating to the paper with one-year maturity, added the media report. IIFL would assign the future receivables arising out of the selected pool contracts to a Trust. The pool is characterised by an average seasoning of 7.7 months and absence of any overdue contracts.

 

Earlier, ICRA has rated three gold loan transactions originated by IIFL, with the third rated last month. The performance of both the others has been strong till date, added the media report.

IIFL's total loan portfolio was Rs 9,479 crore as on June, compared with Rs 8,936 crore as on December 31, 2012. The capital adequacy ratio was 15.2 per cent as on March 31.

Dion Global Solutions Ltd.

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