IIFL Finance has raised $175 million through external commercial borrowing (ECB) route. It has raised $75 million from HSBC and $50 million each from Union Bank's Sydney branch and Bank of Baroda's IFSC unit. With this debt raising, IIFL Finance has raised $275 million in ECB since March this year when it had mopped up $100 million from the Export Development Canada and Deutsche Bank Singapore.
These funds are long-term in nature and will help the company further strengthen its asset liability position and support growth, besides helping diversify its borrowing sources and lower the company's overall borrowing costs.
IIFL Finance is an Indian diversified financial services company.
