Motilal Oswal Home Finance receives $50 mn loan commitment from US DFC
1 min read 07 Apr 2022, 04:15 PM ISTThe lender said it has joined hands with US DFC to provide affordable housing finance to women and low-income group borrowers in India
PremiumMUMBAI : Motilal Oswal Home Finance Ltd on Thursday said it has received a commitment of $50 million in long term loan from the US International Development Finance Corporation (DFC) through the external commercial borrowing (ECB) route.
The lender said it has joined hands with US DFC to provide affordable housing finance to women and low-income group borrowers in India. This funding commitment of $50 million is for a period of 15 years and comes at a fixed rate. The company said it has already received the first tranche of this funding.
The US DFC is America’s development finance institution (DFI) and a part of the US government. It is also the world’s largest development finance institution and provides debt financing, equity investments, feasibility studies, investment funds, political risk insurance and technical assistance.
Shalibhadra Shah, chief financial officer, Motilal Oswal Home Finance, said, “This long-term loan from US DFC validates MOHFL’s efforts towards providing financing solutions to women and low-income group borrowers in India. The strategic partnership with DFC would boost our affordable housing loan business and paves the way for stronger disbursement growth in coming periods."
Dubai-based investment banking advisory firm Alpen Capital was the sole advisor for this transaction, the lender said in a statement.
