CreditAccess Grameen climbs on $200-million overseas loan deal

CreditAccess Grameen Raises $200 Million Offshore Loans - Credit Access Grameen has been valued by the ESB at Rs 1,374, up 1.74% from the previous close. The counter closed up almost 2% in the previous session.

The nation's largest non-bank finance corporation - microfinance institution (NBFC-MIF) announced in a June 27 stock exchange announcement that it has signed a syndicated social loan of up to $200 million to be deposited with the ECB under the automatic route Listed by the Reserve Bank of India. CreditAccess Grameen's shares of stock were acquired for the second consecutive morning on the morning of June 28, a day after the signing of a $200 million outside commercial loan agreement. This marks the ECB company's first corporate loan in the microfinance industry in the country and the fourth largest this year India.