Avanse Financial Services Ltd, an education focused non-banking finance company (NBFC), said it has raised a multi-currency syndicated external commercial borrowing (ECB) loan worth $200 million.

The loan was raised from a syndication of banks from Taiwan, Japan, Singapore, Sri Lanka, the UAE, and India, the company said in a statement.

The loan comprises of commitments of $141.3 million and Japanese Yen amounting to $58.7 million, it added.

The company aims to use the funds to help students from the economically weaker sections of the society.

DBS Bank Ltd, through its IFSC banking unit in Gujarat International Finance Tec-City (GIFT City), and HSBC India were the lead arrangers and book runners for this loan.

"This multi-currency transaction reaffirms international lenders’ confidence in our long-term strategy, purpose-driven mission, and ability to deliver sustainable growth while creating consistent value for all our stakeholders," Amit Gainda, managing director and chief executive officer, Avanse Financial Services.

In March last year, Avanse Financial Services raised $120 million in a funding round led by Abu Dhabi-based investment firm Mubadala Investment Company.