Avanse Financial Services, an education-centric Non-Banking Financial Company (NBFC), has achieved a significant milestone in the Indian education financing sector by signing a $145 million syndicated social-linked External Commercial Borrowing (ECB) deal on Monday. The borrowing from this category will be disbursed in tranches, aiming to support deserving students in accomplishing their academic aspirations.
Standard Chartered (OTC:SCBFF) Bank is leading the initiative as the social loan coordinator and the sole mandated lead arranger. This syndication includes participation from eleven banks, demonstrating strong backing from the financial community for Avanse's mission of empowering education.
Amit Gainda, CEO of Avanse Financial Services, emphasized the importance of a holistic view of social impact and stakeholder engagement for sustainable success. This deal marks a significant step towards achieving that goal, further strengthening Avanse's commitment to education.
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