Credit Saison secures $150 million ECB funding from Mizuho

Mumbai: Non-bank lender Credit Saison (CS) India has secured an ECB funding of $150 million from Mizuho Bank under a bilateral arrangement.

This follows Mizuho Bank's equity investment for a 15% stake in CS India last year for $145 million.

The transaction is structured through Mizuho's GIFT City branch with a five-year tenor.

"This ECB transaction, after their equity investment in 2024, demonstrates deep conviction in our growth model and long-term potential in India," said Presha Paragash, CEO, Credit Saison India. "It also reflects the strength of our multi-product, multi-vertical focused business strategy, and gives us the power to accelerate our plans to scale the business and expand our pan-India footprint."

Paragash said the funds will be used to enhance the loan book through the branch lending operations and its partnership through fintech firms.

In April, Credit Saison India had secured a syndicated loan of $200 million with the participation of Axis Bank, DBS Bank (Singapore) and CTBC Bank (Taiwan). Credit Saison India is owned by Kisetsu Saison Finance, an RBI-registered NBFC.