IIFL Home Finance secures $100-m debt funding

According to a senior corporate official, IIFL Home Finance Limited (IFL HFL), a subsidiary of IIFL Finance, has acquired loan capital of $100 million from IFC, a member of the World Bank Group. We have received the entire $100 million, which was issued as 8.32 percent coupon notes with a six-year maturity. According to the cooperation, 50% of cash will be used to support financing for women borrowers, while the other 50% will be used to finance green housing for purchasers in this cheap housing segment, IIFL HFL's Monu Ratra told sources. Economically disadvantaged (EWS) and low-income groups (LIG), including female borrowers in India, will have easier access to housing finance thanks to the deployment of the full facility, he noted.