CreditAccess Grameen Signs $175M Syndicated Social Loan Led by Standard Chartered and DBS Bank; 5-Year Offshore Raises Hit $640M

• East Asia: The Korea Development Bank (South Korea) and KEXIM Asia Ltd (Hong Kong)
• Middle East (UAE): Al Masraf and The National Bank of Ras Al Khaimah (P.S.C.) [RAKBANK]
• South Asia (Sri Lanka): Commercial Bank of Ceylon PLC and Sampath Bank PLC
• Africa (Mauritius): SBI (Mauritius) Ltd and BCP Bank (Mauritius) Ltd

Liability Diversification and ALM Strengthening

1. Contained Hedging Impact: "While the current hedging costs have temporarily risen, the overall impact on our cost of borrowings is limited since this funding constitutes only 7% of our total borrowings," Dalvi stated.
2. Annual ECB Mandate & ALM Edge: "We aim to raise 15–20% of our annual borrowing requirements through ECBs every year. Hence, this is a continual exercise required to diversify our liability profile. Since ECBs come with a longer tenure, it also helps us in strengthening our ALM (asset liability management) profile," he added.
3. $640 Million Five-Year Track Record: The transaction marks CreditAccess Grameen’s fifth offshore syndication in the past five years, taking its cumulative overseas debt mobilisation to $640 million and elevating foreign currency borrowings to approximately 24% of its total liability profile.