CreditAccess Grameen secures $100 million syndicated loan from South Asian and Far East banks
CreditAccess Grameen secured a $100 million dual-currency syndicated loan led by Standard Chartered, upgraded from $70 million, involving seven South Asian and Far Eastern banks to fund social projects.
By Atmadip Ray, ET Bureau |
ETMarkets.com
CreditAccess Grameen has raised $100 million in external commercial borrowing from banks in South Asia and the Far East.
The syndicated loan facility was structured in dual currencies—Japanese yen and US dollars—and was led by Standard Chartered Bank, the company said in a regulatory filing to stock exchanges.
CreditAccess Grameen is the country's largest NBFC-MFI.
The facility was initially planned for a base size of $70 million in November 2024 but was later upgraded to $100 million, invested by seven banks, especially from Korea and Japan.
The proceeds from this issue will be directed towards eligible social projects, the company said.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
The syndicated loan facility was structured in dual currencies—Japanese yen and US dollars—and was led by Standard Chartered Bank, the company said in a regulatory filing to stock exchanges.
CreditAccess Grameen is the country's largest NBFC-MFI.
The facility was initially planned for a base size of $70 million in November 2024 but was later upgraded to $100 million, invested by seven banks, especially from Korea and Japan.
The proceeds from this issue will be directed towards eligible social projects, the company said.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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