Shares of CreditAccess Grameen Ltd rose 2.71% to ₹1,229 in early trade on Wednesday after the company announced it had raised $100 million through an external commercial borrowing (ECB) arrangement. The syndicated loan, structured in Japanese yen and US dollars, was led by Standard Chartered Bank and marks a first-of-its-kind transaction in India’s microfinance sector.
Initially launched in November 2024 with a base size of $70 million, the facility was oversubscribed and expanded to $100 million with commitments from seven banks across South Asia and the Far East. According to the company, the borrowing cost is highly competitive and lower than its average cost of funds.
CFO Nilesh Dalvi said the transaction supports the company’s goal of increasing foreign borrowings to 25–30% by FY28. This is the second syndicated facility led by Standard Chartered for CreditAccess Grameen, following a $200 million ECB in 2023.
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