Arman Financial's Wholly Owned Subsidiary 'Namra Finance Ltd' (an NBFC-MFI) Successfully Raises ? 66.3 Crores of Debt Capital from MUDRA, and the IIV Mikrofinanzfonds, Germany on Favourable Terms

/ -- Arman Financial Services Ltd (Arman), a Gujarat based non-banking financial company (NBFC), with interests in microfinance, two-wheelers, and micro-enterprise (MSME) loans, announced that its wholly-owned subsidiary 'Namra Finance Ltd' which manages the microfinance business of the group, raised ? 66.3 crores of debt capital from MUDRA, and the IIV Mikrofinanzfonds, Germany (external commercial borrowing)
Highlights of the Borrowing Transactions 1. Borrowed ? 25 Crores from MUDRA at a 6.4% rate of interest, on 17th March, 2020. (Tenure: 2 years) 2. Raised external commercial borrowing (ECB) of ? 41.3 Crores, from IIV Mikrofinanzfonds, Germany at a 12.0% rate of interest (inclusive of hedging cost), on 16th March, 2020. This loan is fully hedged, and has a tenure of 3 years with a bullet repayment structure

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