MFI CreditAccess Grameen raises $175-M via syndicated social loan

Bengaluru-based, publicly listed microfinance institution CreditAccess Grameen has raised USD 175-M through a syndicated social loan facility with participation from 10 financial institutions across Asia, the Middle East, and Africa. Participating lenders in the funding round included Standard Chartered Bank (Singapore), DBS Bank (GIFT City), Commercial Bank of Ceylon, The Korea Development Bank, Sampath Bank, SBI (Mauritius), BCP Bank (Mauritius), Al Masraf, The National Bank of Ras Al Khaimah, and KEXIM Asia. Standard Chartered Bank and DBS Bank acted as the joint mandated lead arrangers and bookrunners for the transaction.The company plans to use the proceeds from the facility, which qualifies as external commercial borrowing (ECB) under the Reserve Bank of India’s automatic route, to optimise borrowing costs. This transaction marks the fifth ECB syndication for the company in five years, bringing the total funds mobilized through such efforts to USD 640-M. Foreign borrowings currently constitute approximately 24% of the company’s liability profile. Additionally, the firm has raised INR 940-Cr through private placements of non-convertible debentures (NCDs) during FY27.