IDBI Bank securitises Rs 82 crores worth home loan receivables
By Mumbai: | 31 Mar 2004
Mumbai: IDBI Bank has successfully securitised receivables worth Rs 82-crore of its home loan portfolio.
The mortgage-backed securitisation programme is in 3 tranches spread across seven investors, with Finolex Cables being one of them.
Mr V. Srinivasan, IDBI Bank's head for structured finance said "This mortgage backed securitisation structuring and sales capability will complement the bank's home loan asset-booking infrastructure. A significant feature of the securitisation is that it incorporates accentuated prepayment protected and prepayment prone tranches."
Mr P.B. Parasnis, Director (Finance), Finolex Cables, said: "The bank's securitisation issuance provided us an excellent opportunity of investing in a very high quality paper at an attractive spread."
