For allocators
Choose the private-credit economics you want to own.
Nodalera gives allocators access to differentiated PTC exposures backed by defined receivables pools, with governed execution from allocation through servicing and transfer.
One underlying pool. Different cash-flow rights, priorities and risk.
The borrowers do not change between certificates. The contractual claim on the pool does.
Underlying pool
Start with the underlying credit.
An allocator should be able to see what sits underneath the instrument, what cash flows they own and what can impair them.
Every investment begins with the receivables pool. For a ₹100 crore pool, investors can review the characteristics that drive the economics:
Three economic exposures
One pool. Three different ways to take risk.
The same receivables, the same borrowers, the same servicing. Three separate contractual claims on its cash flows and losses.
Capital certificate
Principal-oriented exposure.
The holder receives defined principal cash flows and sits senior to the first-loss reserve in the credit waterfall.
Best understood as exposure to principal recovery and severe credit loss.
Income certificate
Interest-oriented exposure.
The holder participates in a defined share of eligible net interest generated by the underlying receivables.
Its economics are sensitive to interest generation, defaults and prepayments.
Opportunity certificate
Residual and first-loss exposure.
The holder contributes the reserve that absorbs defined losses first and receives the higher-risk residual economics of the pool.
Its economics are most sensitive to credit deterioration and reserve usage.
Waterfall
Understand the waterfall before you understand the yield.
Headline return alone does not describe a structured-credit investment.
Everything the pool actually delivers in a cycle.
Scheduled principal cash flows.
Defined interest share, then residual economics.
Capital is reached only after reserve exhaustion.
Scenario behaviour
Different pool outcomes affect each certificate differently.
Scheduled principal.
Defined interest participation.
Residual economics and unused reserve.
Senior to the first-loss reserve. Credit losses reach Capital only after the available reserve has been exhausted.
May receive less interest as asset performance weakens.
Absorbs first-loss impact.
May recover principal sooner.
May lose future interest because prepaid receivables stop generating income.
Residual economics may decline.
Can ultimately suffer principal loss.
Distributions can decline significantly.
Reserve can be exhausted.
Senior does not mean guaranteed.
Lifecycle visibility
The investment continues after allocation.
Once an investor participates, the economics keep changing as the pool performs. Every servicing cycle updates the position: collections arrive, the waterfall executes, distributions are calculated, reserve usage is updated and remaining entitlements change.
The position evolves with the pool.
Nodalera keeps distributions, reserve movements, remaining entitlements and evidence connected to that changing state.
Transferability
Transferability is a feature of the structure. Liquidity is a feature of the market.
Where transaction documents permit, Nodalera can coordinate buyer eligibility, approvals, settlement and ownership updates.
An executable transfer mechanism does not guarantee a buyer. Actual liquidity depends on market depth.
Allocation framework
Compare exposures, not just headline yields.
What loss scenarios affect this certificate?
Is the exposure principal, interest or residual — and where does it sit in the waterfall?
When is capital expected to return, and does early repayment help or hurt the economics?
What transfer mechanism exists and how deep is the buyer market?
Yield matters.
The structure explains why the yield exists.
Short-term capital management
Built toward a higher standard of short-term capital management.
Short duration, transparent pool performance, predictable servicing and governed transferability can make well-structured private credit increasingly relevant to enterprise treasury portfolios.
The objective is not to call private credit cash. It is to reduce the operating and liquidity penalties that have historically limited its use for short-term capital management.
Nodalera does not guarantee returns, principal, liquidity, ratings, recoveries or secondary buyers. Investment outcomes remain dependent on the underlying assets, transaction structure, legal rights and market conditions.
Review private credit from the pool upward.
For allocators evaluating private-credit opportunities, the conversation starts with the underlying credit and ends with the specific economic exposure you choose to hold.