|
Arman Financial Services announced that its wholly-owned subsidiary "Namra Finance" which manages the microfinance business of the group, raised Rs 66.3 crores of debt capital from MUDRA, and the IIV Mikrofinanzfonds, Germany (external commercial borrowing).
Highlights of the Borrowing Transactions:
1. Borrowed Rs 25 crore from MUDRA at a 6.4% rate of interest, on 17 March, 2020. (Tenure: 2 years)
2. Raised external commercial borrowing (ECB) of ₹ 41.3 Crores, from IIV Mikrofinanzfonds, Germany at a 12.0% rate of interest (inclusive of hedging cost), on 16 March, 2020. This loan is fully hedged, and has a tenure of 3 years with a bullet repayment structure.
|