Northern Arc Capital, a Chennai-based non-banking financial company, today announced that it has closed India’s first Persistent Securitisation (PerSec) transaction of ₹38 crore with vehicle loans originated by EssKay Fincorp as underlying assets.
“The PerSec product is unique in many ways and enables the originator to get continuous funding for a longer tenor without multiple transactions and disbursements from lenders,” said Kshama Fernandes, CEO, Northern Arc Capital.