Debt financing
Truhome Finance raises $100-M via maiden syndicated ECB issue
Warburg Pincus-backed, Chennai-based Truhome Finance Ltd (formerly Shriram Housing Finance) has raised USD 100 million (approximately INR 870 crore) via its maiden syndicated External Commercial Borrowing (ECB) from DBS Bank and Sumitomo Mitsui Banking Corporation (SMBC), with SMBC acting the as Mandate Lead Arranger and Bookrunner (MLAB). The ECB is structured as a social loan and carries a coupon of SOFR (Secured Overnight Financing Rate) + 160 basis points.The new funds will be utilised to expand Truhome’s lending portfolio, specifically catering to semi-urban and affordable housing segments, ensuring that underserved borrowers have access to homeownership opportunities.Founded in 2011, Truhome Finance is an affordable housing finance company serving the low and middle income segments and offers home loan, home improvement and home extension loans, self-construction loan and loan against property.
Between Mar 2012 and May 2024, Shriram Housing Finance had attracted about USD 585 M from Warburg Pincus , IFC and Valiant Capital.For FY24, Shriram Housing Finance had reported about INR 1,429 Cr in Operating Income and about INR 217 Cr in PAT.
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