mortgage lender HDFC Ltd On Friday, it said it has raised $1.1 billion (about Rs 8,700 crore) from a group of investors under syndicated. social credit to complete the facility affordable housing segment, Ltd. has raised the amount through External Commercial Borrowings (ECB).

“This landmark financing furthers HDFC’s long-standing mission to be the leading provider of housing finance in India. Proceeds from social credit will go towards financing affordable housing loans,” the company said.

This is India’s largest social financing issuer, largest social credit issuer globally, first social ECB loan outside India and the largest ECB loan deal from a housing finance company/private NBFC in India, HDFC said in a release.

MUFG BANK LIMITED (MUFG) is one of the Mandatory Lead Arrangers and Borrowers (MLABs) along with being the principal social credit coordinator for this transaction.

CTBC Bank, Mizuho Bank,

and Sumitomo Mitsui Banking Corporation are the other MLAB and joint social credit coordinators.

Since its inception in 1977, the largest mortgage lender by asset size in the country has financed 9.5 million (95 lakh) housing units and has a gross loan book of Rs 6.7 trillion.