Northern Arc Capital raises $75-M from Dutch development bank FMO

Non-banking financial company (NBFC) Northern Arc Capital Ltd has secured USD 75 million from Dutch development bank FMO through senior secured non-convertible debentures (NCDs) listed on the BSE, with a five-year tenure.In April, Northern Arc had raised USD 80 million from the International Finance Corporation (IFC), in equal halves of debt and equity components.Northern Arc handles assets under management of INR 10,081 crore. The firm is backed ?Sumitomo Mitsui Banking Corporation?, LeapFrog, 360 ONE (formerly known as IIFL), Accion, Augusta Investments (known as Affirma Capital), Dvara Trust, and Eight Roads (a proprietary arm of Fidelity).