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CDC Group partners with Northern Arc Capital for first pooled bond issuance

CDC Group partners with Northern Arc Capital for first pooled bond issuance
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Northern Arc raises $10 mn in ECB from Calvert Impact Capital

Northern Arc raises $10 mn in ECB from Calvert Impact Capital March 11, 2021 × Northern Arc Capital, a non-banking finance company (NBFC) that provides access to debt capital for under-banked individuals and businesses, announced that it has raised $10 million in debt through external commercial borrowing (ECB) from US-based impact investor Calvert Impact Capital. The funding is Calvert Impact Capital’s largest debt investment in India so far. In a press release, Northern Arc said that it will deploy the funds towards on-lending to financial institutions as well as lending directly to retail customers and to mid-market corporates. “Underbanked customers, including low-income households and small businesses, to whom credit has dried up over the last few months due to the pandemic, will be key beneficiaries of the proceeds,” the NBFC added.

[Funding alert] Northern Arc raises $10M in ECB financing from Calvert Impact Capital

[Funding alert] Northern Arc raises $10M in ECB financing from Calvert Impact Capital The Chennai-based digital debt platform will use the funds to support the growth and liquidity needs of its institutional partners as well as lend to small businesses and individuals. 0 claps Northern Arc Capital has raised $10 million in debt from US-based   According to the company, this is Calvert Impact Capital’s largest debt investment in India so far. Northern Arc will deploy the funds towards on-lending to financial institutions as well as lending directly to retail customers and to mid-market corporates.   Bama Balakrishnan, Chief Operating Officer of Northern Arc, said, 

Northern Arc Capital raises $10 million from US investor Calvert Impact Capital

Northern Arc Capital raises $10 million from US investor Calvert Impact Capital SECTIONS Share Synopsis Calvert Impact Capital plans to use the fund towards on-lending to financial institutions as well as lending directly to retail customers and to mid-market corporates. AFP The investment is aimed a aiding small businesses and promoting gender equity, a cause that is strongly endorsed by both organizations. Northern Arc Capital has raised $10mn debt from US-based impact investor Calvert Impact Capital, close on the heels of its raising $50 million from American development bank US International Development Finance Corp. This is Calvert Impact Capital’s largest debt investment in India, Northern Arc said in a statement.

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