EMGA advises Annapurna Finance on their EURO 15M debt increase with funding from OeEB

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LONDON, March 10, 2022 (GLOBE NEWSWIRE) — Annapurna Finance raised EURO 15 mn of senior debt from OeEB the Improvement Financial institution of Austria, this facility will present monetary help to its purchasers in microfinance area. EMGA suggested on the transaction.

The EUR 15 million debt facility comes at a time when monetary establishments world-wide are exploring new cross-border funding choices to additional ship on their targets.

“Growing monetary inclusion is one among our fundamental strategic objectives. We’re subsequently proud to work with Annapurna – an skilled associate within the subject of microfinance,” acknowledged Sabine Gaber, member of OeEB’s Government Board. “Particularly girls usually have very restricted entry to monetary companies, which is why we’re significantly joyful that our funds will help feminine entrepreneurs and contribute to enhancing gender equality in India.”

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Commenting on the transaction, Annapurna’s CFO Satyajit Das stated, “Annapurna could be very happy and welcomes OeEB as a brand new debt associate.” He additional shared that, “We continued to develop regardless of the pandemic and the funding offered by OeEB will assist enhance our actions whereas producing robust constructive affect.” He additionally praised EMGA advisory group in closing the deal.

EMGA’s Managing Director and Funding Banking Head Sajeev Chakkalakal stated, “It was a pleasure to have the ability to talk Annapurna’s imaginative and prescient of financial empowerment inside India and efficiently construction and negotiate this funding answer with OeEB.” Managing Director Jeremy Dobson added “Annapurna’s robust administration and stable monetary place had been main components that enabled Sajeev and EMGA’s Funding Banking group to finish this financing in tandem with the deep institutional framework and monetary capability that OeEB represents.”

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Annapurna Finance is without doubt one of the prime ten NBFC-MFIs in India. Annapurna Finance was established with a objective of serving their purchasers by bringing them to mainstream, offering want primarily based monetary companies at their doorstep. They presently function in 19 states and handle belongings of greater than EURO 640 mn in microfinance and MSME area. They’re headquartered out of Bhubaneswar, Odisha.

Oesterreichische Entwicklungsbank AG (OeEB) has been working because the Improvement Financial institution of Austria since March 2008. It specialises within the provision of long-term finance for the implementation of personal sector tasks in creating nations which create sustainable growth. Moreover, OeEB offers technical help, which can be utilized to boost the developmental affect of tasks. For extra info, please go to https://www.oe-eb.at/

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Rising Markets International Advisory (EMGA), with workplaces in London and New York, helps monetary establishments and corporates searching for debt or fairness capital. EMGA’s multi-national group mix the a long time of expertise essential to finish transactions on behalf of their purchasers throughout the world’s rising markets and frontier economies, together with India which stays a key market. With a confirmed monitor report in capital formation and strategic advisory all through various financial cycles, EMGA continues increasing its geographic attain and repair providing, solidifying its place out there as one of many industries pre-eminent rising markets targeted area of interest funding banks.

data@emergingmarketsglobaladvisory.com