Prime Highlights
- Avanse Financial Services raises $200 million loan to support students from low-income families.
- The social-linked loan aims to make education financing easier and more affordable for deserving students in India.
Key Highlights
- The loan includes $141.3 million in US dollars and a Japanese Yen portion worth $58.7 million, totaling $200 million.
- The facility was arranged by DBS Bank and HSBC with participation from banks across Taiwan, Japan, Singapore, Sri Lanka, the UAE, and India.
Key Background
Avanse Financial Services has taken a $200 million loan in multiple currencies to support students from low-income families. This social-linked loan makes education more accessible and affordable for deserving students.
The loan was brokered by DBS Bank, via its GIFT City arm, and HSBC India, with the assistance of key banks in Japan, Singapore, Sri Lanka, the UAE, Taiwan, and India. The total loan includes $141.3 million in US dollars and a Japanese Yen portion worth $58.7 million, adding up to $200 million.
Amit Gainda, MD & CEO of Avanse Financial Services, said the loan is an important step in making education financing easier and more affordable for deserving students across India. He said the loan demonstrates that global lenders believe in Avanse’s long-term plans and purpose. It’s more than just investment; it shows the commitment of the company that achievement is not just led by strong financials but also the impact it cultivates for students, communities, and stakeholders.
Avanse, a student-centric, education-focused NBFC, provides support across the entire academic spectrum, from students pursuing advanced degrees in India and abroad to educational institutions looking to scale and modernize their delivery.
Using the route of ECB, Avanse would be able to access diversified global capital markets in addition to enhancing the relationship with domestic and international financial institutions. Besides enhancing funding resilience, this strategy also enables Avanse to take an appropriate position in the education financing market.
This change comes at a time when Avanse is taking further steps in support of education financing by enabling more inclusive and transformational access to education, both locally and internationally, for students.
Read Alos : Universities Prove Stronger Than Big Business in UK Economy
