Avanse Financial raises $200 million via ECB

Avanse Financial Services Ltd., an education-focused non-banking financial company (NBFC) said it has secured a multi-currency syndicated External Commercial Borrowing (ECB) loan equivalent to $200 million.

The transaction was jointly led by DBS Bank Ltd through its IFSC banking unit in GIFT City and HSBC India. 

The syndication attracted participation from prominent banks spanning Taiwan, Japan, Singapore, Sri Lanka, the UAE, and 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. 

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

Amit Gainda, Managing Director & Chief Executive Officer, Avanse Financial Services, said, “This syndicated social-linked loan facility marks another important milestone in our mission to make education financing seamless and affordable for every deserving Indian student.” 

“This multi-currency transaction reaffirms international lenders’ confidence in our long-term strategy, purpose-driven mission, and ability to deliver sustainable growth while creating consistent value for all our stakeholders,” he said.