Shriram Housing Finance mops up $50 m via maiden ECB

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Shriram Housing Finance Limited (SHFL) has raised $50 million through its first offshore commercial loan (ECB).

The money from the European Central Bank, which opens a new channel for international fundraising, will be used in financing affordable housing in India, according to a statement from the Housing Finance Corporation.

“SHFL raised the 3-year ECB at a cost of 200 basis points above the SOFR (Secured Overnight Funding Rate). Borrowing is fully protected,” the company said.

HFC said it has financed 1.36 thousand housing units and has a total loan book of Rs 9,000 crore as of end of June 2023.