NEW DELHI: Mortgage lender HDFC Ltd on Friday stated it has raised $1.1 billion (round Rs 8,700 crore) from a clutch of buyers underneath ‘Syndicated Social Loan Facility’ to cater to the affordable housing segment.
HDFC Ltd has raised the quantity by means of exterior business borrowings (ECBs).
“This landmark financing further promotes HDFC’s longstanding mission to be the leading provider of housing finance in India. Proceeds from the social loan would go towards financing affordable housing loans,” the corporate stated.
This is India’s largest social financing issuance, the most important social mortgage globally, the primary social ECB mortgage out of India and the most important ECB mortgage deal from a Housing Finance Company/non-public NBFC in India, HDFC stated in a launch.
MUFG Bank Ltd (MUFG) is the lead social mortgage coordinator for this transaction together with being one of the Mandated Lead Arranger and Borrowers (MLAB), it stated.
CTBC Bank, Mizuho Bank, State Bank of India and Sumitomo Mitsui Banking Corporation are the opposite MLABs and joint social mortgage coordinators.
Since its inception in 1977, the most important mortgage lender by asset measurement within the nation has financed 9.5 million (95 lakh) housing items and has a gross mortgage e book of Rs 6.7 trillion.