NEW DELHI: Mortgage lender HDFC Ltd on Friday mentioned it has raised $1.1 billion (round Rs 8,700 crore) from a clutch of traders beneath ‘Syndicated Social Mortgage Facility’ to cater to the reasonably priced housing phase.
HDFC Ltd has raised the quantity by means of exterior industrial borrowings (ECBs).
“This landmark financing additional promotes HDFC’s longstanding mission to be the main supplier of housing finance in India. Proceeds from the social mortgage would go in the direction of financing reasonably priced housing loans,” the corporate mentioned.
That is India’s largest social financing issuance, the biggest social mortgage globally, the primary social ECB mortgage out of India and the biggest ECB mortgage deal from a Housing Finance Firm/non-public NBFC in India, HDFC mentioned in a launch.
MUFG Financial institution Ltd (MUFG) is the lead social mortgage coordinator for this transaction together with being one of many Mandated Lead Arranger and Debtors (MLAB), it mentioned.
CTBC Financial institution, Mizuho Financial institution, State Financial institution of India and Sumitomo Mitsui Banking Company are the opposite MLABs and joint social mortgage coordinators.
Since its inception in 1977, the biggest mortgage lender by asset dimension within the nation has financed 9.5 million (95 lakh) housing models and has a gross mortgage e book of Rs 6.7 trillion.
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