Corporate News
Satin Creditcare Network (SCNL) has successfully raised its first syndicated social term loan of USD 100 million via External Commercial Borrowing (ECB) under the automatic route of the Reserve Bank of India (RBI). This facility was arranged solely by Standard Chartered Bank who also participated in funding from SCB Gift City branch.
Other participating banks included six prominent Sri Lankan banks namely, Hatton National Bank, National Development Bank, Seylan Bank, Pan Asia Banking Corporation, Commercial Bank of Ceylon and DFCC Bank.
The Company has successfully secured total commitments of USD 100 million, which includes a greenshoe options of USD 25 million. The agreement was signed in February 2025, and the first tranche was disbursed on 12 March 2025.
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