Credit Saison India, the Indian arm of Japan’s Saison International, has raised $300 million in its maiden syndicated and bilateral external commercial borrowing (ECB) issuance, according to an announcement.
The transaction, which marks one of the largest debut ECB deals by a non-banking financial company (NBFC) in India, comprises a $200-million syndicated facility from Asian financial institutions, including a USD tranche from Axis Bank and DBS Bank and a JPY tranche from CTBC Bank.
An additional $100 million was secured through a bilateral arrangement with a public sector bank in India, Saison International said.
The funds will support Credit Saison India’s expansion plans in wholesale lending, co-lending, and secured direct lending, per the announcement.
The company also aims to grow its footprint beyond its existing 60-plus branches across India and deepen partnerships with fintechs and NBFCs.
“The capital will accelerate our India-focused strategy, driving growth in wholesale lending, co-lending partnerships, and secured direct lending products,” said Presha Paragash, CEO of Credit Saison India.
Credit Saison India was established in 2019 and has grown rapidly, with more than 2 million active loans, assets under management (AUM) of about $2 billion, and a workforce exceeding 1,300.
In February last year, Japan’s Mizuho Bank announced a $145-million investment in Credit Saison India. The deal marked the first investment by a non-group company into Credit Saison India.
Saison International is Credit Saison’s international headquarters in Singapore that oversees all of Credit Saison’s global business divisions. It has offices across Singapore, Indonesia, Vietnam, Thailand, and India. In 2023, it entered two more markets — Brazil and Mexico.
Kosuke Mori, CEO of Saison International, said the ECB issuance marked a key milestone in the company’s global expansion and underscored its commitment to scaling operations in India.
It also reflects the rising confidence of leading financial institutions in our strategy for resilient, scalable growth across markets, and operational capabilities, with India in focus,” Mori said.
Credit Saison, listed on the Tokyo Stock Exchange, is one of Japan’s largest non-bank lenders with a balance sheet of approximately $30 billion.
