Money & Banking

L&T Finance raises $ 550-m through ECB anchored by IFC

Our Bureau Mumbai | Updated on July 04, 2019 Published on July 04, 2019

L&T Finance will receive $550 million in external commercial borrowings (ECB) anchored by International Finance Corporation, a member of the World Bank Group along with BNP Paribas, Citibank, and DBS Bank.

“Investors have contributed $275 million in the first tranche, of which IFC is bringing in $ 215 million,” said a press statement on Thursday.

Expansion plan

The funds will be used by L&T Finance to expand its farm equipment finance book by extending loans to farmers for buying equipment and modernising farming.

Published on July 04, 2019
This article is closed for comments.
Please Email the Editor