HDFC Credila, a lender specializing in education loans, has successfully raised $100 million in external commercial borrowing (ECB) to enhance its funding sources and strengthen its position in the education finance sector.
DBS Bank served as the sole mandated lead arranger and book-runner for this borrowing, completed through its IFSC banking unit in Gujarat International Finance Tech-City (GIFT City), as announced in a statement on April 9.
Arijit Sanyal, managing director & CEO of HDFC Credila, expressed appreciation for the support of DBS Bank and highlighted the trusted relationship between the two entities.
Rajat Verma, managing director and head of institutional banking group at DBS Bank India, emphasized HDFC Credila’s role in facilitating access to education for Indian students amid increasing demand for education loans.
In a related development, HDFC Bank divested its stake in HDFC Credila to private equity firms BPEA EQT and ChrysCapital for Rs 9,553 crore in March of this year. This divestment was made to comply with regulatory requirements preceding the merger of Housing Development Finance Corporation (HDFC) with HDFC Bank in June 2023.
