IIFL Finance has secured $100 million (about Rs 819 crore) in long-term funding from Export Development Canada and Deutsche Bank. It has received $50 million each from Export Development Canada and Deutsche Bank. This round is the second investment by the Canadian institution, which had invested $100 million in 2019. The deal was structured by Deutsche Bank as the lead arranger, book runner and co-financier. The money will be used to pre-pay existing higher cost debt, which will help it save significantly on its borrowing costs.
IIFL Finance is an Indian diversified financial services company.
