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Portea Medical secures commitment from US-based DFC for $7.7 mn loan

The DFC guarantee will enable a local commercial bank in India to extend the equivalent of a Rs 52 crore loan to Portea

Meena Ganesh, co-founder, MD & chairperson, Portea Medical
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Meena Ganesh, co-founder, MD & chairperson, Portea Medical

BS Reporter Mumbai
Out-of-hospital consumer healthcare company Portea Medical has secured a commitment from the US International Development Finance Corporation (DFC) for a $7.7 million loan. This loan under local currency guaranty facility will assure repayment of a rupee-denominated loan to be issued by a local commercial bank in India.  

The DFC guarantee will enable a local commercial bank in India to extend the equivalent of a Rs 52 crore loan to Portea. The structure is significant as it helps in mobilising local capital for Portea and mitigates foreign exchange risk from Portea’s balance sheet, said the company.

The DFC-guaranteed loan will be

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First Published: Sep 30 2021 | 1:24 PM IST

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