Piramal Finance Raises $100 Million for Social Impact Initiatives

Piramal Finance Raises $100 Million for Social Impact Initiatives

Piramal Capital & Housing Finance Ltd (Piramal Finance), a subsidiary of Piramal Enterprises Limited, has secured its first USD syndicated Social Loan of $100 million under the RBI's External Commercial Borrowing (ECB) guidelines. The proceeds from the loan will be directed towards funding social projects aimed at driving significant change in communities. These projects include affordable housing, priority sector loans, MSME business loans, and microfinance.

The loan, which has a maturity of three years and is benchmarked to a three-month Secured Overnight Financing Rate (SOFR), will adhere to Piramal Enterprises’ Sustainable Finance Framework. Standard Chartered Bank is acting as the Social Loan Coordinator and is the sole mandated Lead Arranger, Underwriter, and Bookrunner for this transaction. The financing aligns with the Social Loan Principles 2023, and S&P Global Ratings has provided a second-party opinion on the framework, confirming its credibility and impact.

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