CreditAccess Grameen Limited (NSE: CREDITACC, BSE: 541770), also known as CA Grameen or the Company, has signed a USD 175 million syndicated social loan facility qualifying as External Commercial Borrowing (ECB) under the automatic route of the Reserve Bank of India (RBI). Standard Chartered Bank and DBS Bank acted as the Joint Mandated Lead Arrangers and Bookrunners for the transaction.
Despite global macroeconomic uncertainties and heightened competition in the ECB market from FCNR (B) deposit mobilisation, the syndication received a strong response, with competitive loan pricing and participation from ten financial institutions across Asia and the Middle East & Africa regions.
Alongside anchor contributions from Standard Chartered Bank (Singapore) and DBS Bank (GIFT City), the participating institutions included Commercial Bank of Ceylon PLC (Sri Lanka), The Korea Development Bank (South Korea), Sampath Bank PLC (Sri Lanka), SBI (Mauritius) Ltd, BCP Bank (Mauritius) Ltd., Al Masraf (UAE), The National Bank of Ras Al Khaimah (P.S.C.) (UAE), and KEXIM Asia Ltd. (Hong Kong).
The transaction reflects international lenders' continued confidence in CA Grameen's business model and corporate governance standards. It marks the Company's fifth successful ECB syndication transaction over the past five years, taking the total amount mobilised through these transactions to USD 640 million. Foreign borrowings currently account for around 24% of the Company's liability profile, supported by a lender base spanning 15 countries.
Over the past decade, CA Grameen has continued to diversify its liability franchise beyond traditional bank borrowings by establishing a presence in the domestic debt capital market and expanding its reach in the global loan market, leveraging its environmental, social and governance (ESG) credentials.
During FY27, the Company has also mobilised INR 940 crore through multiple private placements of non-convertible debentures (NCDs), with pricing broadly in line with its average cost of borrowings.
Commenting on the transaction, Nilesh Dalvi, Chief Financial Officer of CreditAccess Grameen, said, “The successful closure of the USD 175 million facility at competitive pricing, amidst global macroeconomic uncertainties and heightened competition from FCNR(B) deposits mobilisation, demonstrates the strength of CA Grameen franchise and the confidence we have earned from international lenders. The CA Grameen brand rests on a proven performance track record, strong corporate governance standards, deep customer relationships across India’s hinterland and disciplined risk management. As we diversify our sources of funding, our focus remains on optimising funding costs, maintaining a robust asset-liability management (ALM) profile and strengthening balance sheet resilience to support sustainable growth and our long-term commitment to financial inclusion.”
Headquartered in Bengaluru, CreditAccess Grameen Limited is described as India's leading rural-focused inclusive financing platform. The Company provides a curated lifecycle credit suite to low-middle income households, covering group loans, individual business loans, secured business loans, affordable housing loans and two-wheeler financing.
CA Grameen operates across 457 districts in 16 states—Andhra Pradesh, Bihar, Chhattisgarh, Goa, Gujarat, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh and West Bengal—and one union territory, Puducherry, through 2,276 branches.
The Company's promoter is CreditAccess India B.V., a multinational company focused on inclusive financing and supported by leading global institutional investors. The USD 175 million syndicated social loan adds to CA Grameen's funding diversification efforts as it continues to draw on domestic and international capital markets to support its financial inclusion commitments.
For more information, contact Sahib Sharma, DGM – Investor Relations & Strategy, CreditAccess Grameen Ltd, at sahib.sharma@cagrameen.in.
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