NEWS
HDFC Credila raises $100 mn for loan expansion
HDFC Credila will use the $100 mn it raises via ECB to grow its retail education loan franchise.
HDFC Credila will use the $100 mn it raises via ECB to grow its retail education loan franchise.
HDFC Credila Financial Services, an education loans-focused lender, has raised $100 million in external commercial borrowing (ECB).
The funds will be used for growing the retail education loan franchise.
The syndicated loan was led by DBS Bank's IFSC banking unit in Gujarat International Finance Tec-City (GIFT City).
"We are pleased to have concluded a $100 million ECB transaction with DBS Bank as the lead arranger," Credila managing director and chief executive Arijit Sanyal said.
DBS Bank India managing director Rajat Verma said the education loan company is poised to play an important role in nurturing the country's talent by enabling access to learning for India's students.
In March last year, HDFC Bank completed the sale of its stake in HDFC Credila to private equity firms BPEA EQT and ChrysCapital in an over $ 1.15 billion deal.
