Alpen Capital has advised Motilal Oswal Home Finance Limited (“MOHFL”), India, in raising US$ 50 million in a foreign currency term loan from the US International Development Finance Corporation. The facility has a tenure of 15 years and the funds will be utilized to finance eligible mortgage loans to low income borrowers in India.
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About Motilal Oswal Home Finance Limited:
Incorporated in 2013, MOHFL is the housing finance arm of the US$ 1.6bn Motilal Oswal Financial Services Limited. The company primarily offers housing loans to customers in the low and middle income groups, with average ticket size of around INR 8.5 lakh (~US$ 11600). MOHFL is present in nine states through a network of 104 branches.
About US International Development Finance Corporation:
US International Development Finance Corporation (“DFC”) is the US Government’s development finance institution. DFC partners with private sector to finance solutions to the most critical challenges facing the developing world. It invests across sectors including financial services, energy, healthcare, critical infrastructure, technology and agriculture by way of debt financing, equity investments, feasibility studies, investment funds, political risk insurance and technical assistance. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. It had a total exposure of US$ 29.7Bn in fiscal 2020.