Muthoot Microfin raises $75mn via ECB

Hyderabad: Muthoot Microfin Limited, a leading Indian microfinance institution, has announced a syndicated social term loan of $75 million in the form of an ECB (External Commercial Borrowing).

The deal was participated by Standard Chartered Bank, Doha Bank, RakBank (National Bank of Ras Al Khaimah), Union Bank of India (UK) Ltd, and Canara Bank, GIFT City. Sadaf Sayeed, CEO, Muthoot Microfin, said, “We are proud to announce this ECB and are grateful to all the participants for their positive response.”