EMGA ADVISES ANNAPURNA FINANCE ON DEBT RAISE WITH OEEB FUNDING

KUALA LUMPUR, March 11 (Bernama) -- Annapurna Finance has raised EURO 15 million of senior debt from OeEB the Development Bank of Austria, this facility will provide financial assistance to its clients in microfinance space. (EURO 1 = RM4.605)

According to a statement, Emerging Markets Global Advisory (EMGA) advised on the transaction.

The EURO 15 million debt facility comes at a time when financial institutions worldwide are exploring new cross-border funding options to further deliver on their objectives.

Commenting on the transaction, Annapurna’s CFO Satyajit Das said: “Annapurna is very pleased and welcomes OeEB as a new debt partner.”

He further shared: “We continued to grow despite the pandemic and the funding provided by OeEB will help boost our activities while generating strong positive impact.” He also praised EMGA advisory team in closing the deal.

Meanwhile, EMGA’s Managing Director and Investment Banking Head Sajeev Chakkalakal said: “It was a pleasure to be able to communicate Annapurna’s vision of economic empowerment within India and successfully structure and negotiate this funding solution with OeEB.”

Annapurna Finance is one of the top 10 NBFC-MFIs in India. It was established with a purpose of serving their clients by bringing them to mainstream, providing need-based financial services at their doorstep.

Oesterreichische Entwicklungsbank AG (OeEB) has been operating as the Development Bank of Austria since March 2008. It specialises in the provision of long-term finance for the implementation of private sector projects in developing countries which create sustainable development.

With offices in London and New York, EMGA helps financial institutions and corporates seeking debt or equity capital.

-- BERNAMA