Satin Creditcare Network Limited (SCNL), a leading microfinance institution, has successfully raised its first syndicated social term loan of $100 million via External Commercial Borrowing (ECB) under the automatic route of the Reserve Bank of India (RBI).
This social funding is intended to expand access to financial services, promote economic participation, and drive development in India’s underbanked regions. Additionally, it will enhance the company’s Asset and Liability Management (ALM) position while reducing its cost of funds
This facility was arranged solely by Standard Chartered Bank who also participated in funding from the 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 Ceylonand DFCC Bank.
Speaking on the fundraise, HP Singh, Chairman cum Managing Director of SCNL said, “This social loan marks a significant landmark as Satin Creditcare’s first syndicated transaction, reflecting the trust and confidence that global financial institutions have placed in us. Securing USD 100 million from new lenders, notably prominent Sri Lankan banks, amid challenging times highlights our strong governance, sustainable growth, and financial resilience.
Furthermore, this advancement enables us to not only diversify our source of funds but also establish a strong, sustained presence in the international market. This funding will empower us to deepen our outreach, particularly to rural women and underserved communities, driving financial inclusion and fostering economic progress across India’s most marginalized regions. As we continue to align with globally recognized social financing principles, this achievement reinforces our dedication to creating long-term social impact.”
SCNL had successfully secured total commitments of $100 million, which included a greenshoe options of $25 million. The agreement was signed in February 2025, and the first tranche was disbursed on March 12, 2025.
Standard Chartered Bank acted as the Social Loan Coordinator for the transaction, helping SCNL put in place a Social Financing framework which carries a Second Party Opinion from Moody’s Ratings. The loan has been tied up for a 3 years and 3 months tenor and benchmarked to a 3-month Term SOFR (Secured Overnight Financing Rate).
