Avanse Financial Services raises USD 200 mn through syndicated ECB

New Delhi, Aug 21 (PTI) Avanse Financial Services Ltd, an education-focused non-banking financial company (NBFC), has secured a multi-currency syndicated External Commercial Borrowing (ECB) loan equivalent to USD 200 million (about Rs 1,740 crore).

The transaction was jointly led by DBS Bank through its IFSC banking unit in Gujarat International Finance Tec-City (GIFT City) and HSBC India.

It is classified as a social loan as Avanse aims to utilise this fund to enable students from economically weaker sections of society to fulfil their academic aspirations seamlessly, Avanse said in a statement.

The transaction comprised commitments of USD 141.3 million and a JPY tranche equivalent to USD 58.7 million, totalling USD 200 million equivalent, it said.

The ECB route is a strategic lever to tap into deep, diversified pools of capital while fostering long-term partnerships with leading domestic and global financial institutions, enhancing both funding resilience and market positioning, it said. PTI DP DP SHW