The first tranche of $15 million had already been disbursed. This is the first foreign currency ECB for India’s largest NBFC-MFI by gross loan portfolio.
“It has not only added to our diversified funding source but has also been part of a strategy of long-term stable funding, positively impacting asset liability management,” Udaya Kumar Hebbar, managing director of CreditAccess Grameen said.
This will support the lender’s growth plans over the next few months, he said.
The lender with Rs 11,341 crore loan outstanding at the end of March caters to nearly 29 lakh borrowers.
Northern Arc Capital acted as the exclusive arranger for this transaction.
“The transaction is proof of Northern Arc’s ability to partner with clients across the size and credit rating spectrum,” said Bama Balakrishnan, chief operating officer at Northern Arc Capital.
