Avanse Financial Services Limited has secured a multi-currency syndicated External Commercial Borrowing (ECB) loan equivalent to USD 200 million. The loan was arranged with the support of DBS Bank Limited, through its IFSC banking unit in Gujarat International Finance Tec-City (GIFT City), and HSBC India. Both banks acted as mandated lead arrangers and book-runners for the transaction.
The syndication saw participation from several banks across Taiwan, Japan, Singapore, Sri Lanka, the UAE, and India. The funds are classified as a social loan, with Avanse planning to use them to help students from economically weaker backgrounds pursue their academic goals. The total amount includes commitments of USD 141.3 million and a JPY tranche equivalent to USD 58.7 million.
Amit Gainda, Managing Director & Chief Executive Officer of Avanse Financial Services, said, “This syndicated social-linked loan facility marks another important milestone in our mission to make education financing seamless and affordable for every deserving Indian student. This multi-currency transaction reaffirms international lenders’ confidence in our long-term strategy, purpose-driven mission, and ability to deliver sustainable growth while creating consistent value for all our stakeholders. More than a source of capital, such borrowings reflect our conviction that lasting success depends not only on strong financial performance, but also on the positive, measurable impact we create for our social environment, the communities we serve, and all stakeholders connected to our journey.”
Divyesh Dalal, Managing Director & Country Head – Global Transaction Services at DBS Bank India stated: “We are pleased to have led this transaction, which aligns closely with Avanse’s goal of making quality education more inclusive. At DBS, we believe that enabling access to education is key to cultivating talent and driving long-term socio-economic progress. By leveraging our strong syndication and structuring expertise, we aim to deliver innovative solutions that unlock growth opportunities for enterprises. This also underscores DBS’ commitment to purpose-driven banking and our focus on supporting sectors that create meaningful impact.”
Ajay Sharma, Managing Director and Head of Banking at HSBC India added: “We are pleased to work alongside Avanse to arrange their first multi-currency syndicated ECB, reinforcing our focus on the syndicated loans space for Indian financial institutions. This underscores our commitment to support companies, drive meaningful and transformative impact.”
Avanse serves students seeking advanced degrees both in India and abroad as well as educational institutions looking to expand or modernize their offerings. Its network covers over 1,650 educational institutions across more than 50 countries.
DBS is an established financial services group based in Asia with operations in 19 markets including Greater China, Southeast Asia and South Asia. The bank holds high credit ratings (“AA-” by S&P Global Ratings; “Aa1” by Moody’s) among global peers. DBS has received recognition such as “World’s Best Bank” by Global Finance and Euromoney multiple times as well as “Global Bank of the Year” by The Banker magazine. It has also been awarded “Safest Bank in Asia“ by Global Finance for 16 consecutive years from 2009 through 2024 (https://www.dbs.com/newsroom/awards). In India specifically during 2025 it was named Best Bank for Corporate Banking and Best Digital Bank for SMEs by industry evaluators like CRISIL - Coalition Greenwich (https://www.crisil.com/en/home/newsroom/press-releases/2025/06/crisil-coalition-greenwich-recognises-dbs-bank-india-as-best-bank-for-corporate-banking.html).
DBS has operated in India since opening its Mumbai office in 1994; it became the first large foreign bank locally incorporated as a subsidiary under new regulations (https://www.dbs.com/in/index/default.page). Following its merger with Lakshmi Vilas Bank in November 2020 (https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=50715), DBS now operates about 350 locations across 19 states.
HSBC India offers a range of banking services through branches in major cities nationwide while globally HSBC Holdings plc manages assets totaling over US$3 trillion as of June 2025.