NBFC Au Financiers raises Rs 330 crore from European agencies

MUMBAI: Au Financiers (India), an NBFC based in Jaipur, has raised long-term unsecured debt of USD 60 million (around Rs 330 crore) from three multilateral agencies of Europe.

In a release here, the company said it has raised the amount from FMO, a Dutch development bank, CDC Group Plc, a UK -based development finance institution, and GuarantCo at competitive rate.

According to the NBFC, this transaction will further support diversification of its liability profile into non- banks through the FII route.

"This association will go a long way in supporting Au's growth and progress," Au Financiers Managing Director Sanjay Agarwal said.

The non-banking financial company provides loans for commercial vehicles, cars, multi-utility vehicles, three- wheelers, small and medium enterprises. It recently forayed into housing finance.