The Senior A1 Series rated as “P1+” was subscribed to by a mutual fund and another subordinated A2 series rated as “P4+” was subscribed to by IFMR.
Grameen Financial Services Private Limited (also known as Grameen Koota) today completed a second round of securitization for a sum of Rs. 31.15 Cr. The Senior A1 Series rated as “P1+” was subscribed to by a large mutual fund whose name was not disclosed and the subordinated A2 series rated as “P4+” was subscribed to by IFMR.
This deal was structured and arranged by IFMR Capital which is based in Chennai that has worked to enable funding to microfinance institutions through its Rs. 200 Cr. securitization program. The entire securitization was rated by CRISIL.
Speaking to the media .Suresh Krishna, the Managing Director of Grameen Koota said, “This is the second transaction and just shows the tremendous faith that our investors have in us and in growth of Microfinance sector at large. The benefit will definitely go down to our customers as well”.