Signs USD 175 Million Syndicated Social Loan Facility; Qualifies as ECB Under RBI Automatic Route

CA Grameen signed a USD 175 million syndicated social loan facility, qualifying as ECB under RBI's automatic route.

Mon 12 Oct 2026

Facility Size

USD 175 million syndicated social loan facility

Lender Participation

Ten financial institutions participated

Cumulative ECB Mobilisation

Fifth ECB syndication in five years; USD 640 million mobilised till date

The transaction in brief

CA Grameen has signed a USD 175 million syndicated social loan facility, which the company states qualifies as ECB (External Commercial Borrowing) under the automatic route of the Reserve Bank of India. Standard Chartered Bank and DBS Bank acted as the Joint Mandated Lead Arrangers and Bookrunners.

Who participated

• Ten financial institutions took part, from Asia and the Middle East & Africa regions.
• Anchor contributions came from Standard Chartered Bank (Singapore) and DBS Bank (GIFT City).
• Other participants included Commercial Bank of Ceylon PLC (Sri Lanka), The Korea Development Bank (South Korea), Sampath Bank PLC (Sri Lanka), SBI (Mauritius) Ltd, BCP Bank (Mauritius) Ltd., Al Masraf (UAE), The National Bank of Ras Al Khaimah (P.S.C.) (UAE), and KEXIM Asia Ltd. (Hong Kong).
• The company describes the syndication as having received a strong response with competitive loan pricing.

Where it fits in the funding mix

• This is the fifth ECB syndication transaction completed by CA Grameen over the past five years, mobilising USD 640 million till date.
• The company currently holds around 24% of its liability profile in foreign borrowings.
• It has built a lender base across 15 countries.
• During FY27, the company also mobilised INR 940 crore through multiple private placements of non-convertible debentures (NCDs), with pricing broadly in line with its average cost of borrowings.

What management said

Mr. Nilesh Dalvi, Chief Financial Officer, stated that the successful closure of the USD 175 million facility at competitive pricing, amidst global macroeconomic uncertainties and heightened competition from FCNR(B) deposits mobilisation, demonstrates the strength of the CA Grameen franchise and the confidence earned from international lenders. He added that the focus remains on optimising funding costs, maintaining a robust asset-liability management (ALM) profile and strengthening balance sheet resilience.

How to read this

• The press release is about a borrowing (liability side), not about lending growth or earnings for a period.
• The stated points of interest for a reader are the size of the facility, the number and spread of lenders, the share of foreign borrowings in the liability profile, and the company's stated intent to optimise funding costs.
• The release does not state the interest rate or tenure of the facility; it says the pricing was competitive.

Company background given in the release

• Operates across 457 districts in 16 states and one union territory (Puducherry) through 2,276 branches.
• Product suite spans group loans, individual business loans, secured business loans, affordable housing loans and two-wheeler financing.
• Promoter is CreditAccess India B.V., supported by global institutional investors.

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