MUMBAI, Mar 25: Non-banking Finance Company SMFG India Credit (SMICC), on Tuesday said it has successfully raised USD 175 million via External Commercial Borrowing (ECB) for expanding its lending portfolio and supporting customers across various segments.
The facility has been jointly arranged by Standard Chartered Bank (SCB) and CTBC Bank. SMFG India Credit has fully hedged the facility to mitigate risks associated with foreign exchange and interest rate fluctuations, it said in a statement.
Mr. Pankaj Malik, Chief Financial Officer, SMFG India Credit, said, “This syndicated loan facility is a testament to SMFG India Credit’s strong financial standing and robust growth outlook. The successful closure of this transaction demonstrates the confidence of global banking partners in our business fundamentals and long-term vision. With this funding, we aim to strengthen our lending capabilities, ensuring greater access to credit for individuals and businesses while maintaining a prudent risk management framework.”
This transaction further solidifies SMFG India Credit’s position as a financially resilient and growth-oriented NBFC, committed to delivering innovative and sustainable financing solutions.
SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.), is RBI-registered NBFC – Investment and Credit Company (NBFC-ICC) and operational in India since 2007. (UNI)
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