Latest News | Avanse Financial Gets USD 145 Mn Social-linked ECB Facility

Mumbai, Oct 16 (PTI) Education-focused non-bank Avanse Financial Services Monday said it has received a USD 145 million (about Rs 1,207 crore) syndicated social-linked loan facility under the external commercial borrowing (ECB) window, from Standard Chartered Bank and 10 other international lenders.

The amount will be received in tranches, the company said.

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Standard Chartered Bank is the social loan coordinator, and also the only lead arranger and book runner for this loan from 11 banks, Amit Gainda, managing director & chief executive of Avanse, said.

Avanse has so far funded 4 lakh students from across 4,000 institutes and 30,000 courses in 50 countries. It has also provided growth and working capital to around 2,000 educational institutes.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)