IFMR Capital recently concluded a Rs. 339 million multi-originator microloan securitisation with three Indian microfinance institutions (MFIs). IFMR Capital Mosec II, the SPV, issued two tranches of securities backed by 36,972 microloans that were originated by Sahayata Fintrade, Satin Creditcare, and Asirvad Microfinance. One of India’s largest mutual funds subscribed to the senior P1+(so) rated tranche and IFMR Capital invested in the subordinated piece.
Click here for the official Press Release.
In the current financial year, IFMR Capital aims to structure many more such transactions that build on its track record of bringing efficient and reliable access to debt capital markets for high quality institutions impacting low-income households.
Watch this space for an inside scoop about the people behind the transaction and their experiences from it!