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HUDCO Secures USD 200 Million in Maiden Syndicated Loan for Social Housing Expansion

Japan's Sumitomo Mitsui Banking Corporation (SMBC), through its Singapore branch, led the financing deal, which witnessed robust investor interest and was oversubscribed.
Indian Masterminds Stories

The Housing and Urban Development Corporation (HUDCO) has successfully secured USD 200 million (JPY 30 billion) in its inaugural syndicated loan, marking its entry into the global financial market. Japan’s Sumitomo Mitsui Banking Corporation (SMBC), through its Singapore branch, led the financing deal, which witnessed robust investor interest and was oversubscribed.

Initially launched as a JPY 15 billion offering, the loan size was upsized to JPY 30 billion following strong demand and the exercise of a greenshoe option, as announced in an official statement by SMBC.

HUDCO, a state-run entity, described this as its first “social loan,” emphasizing its commitment to expanding social housing initiatives and enhancing urban infrastructure across India. The funding will support HUDCO’s efforts to improve living conditions and infrastructure facilities in urban areas, thereby contributing to the nation’s development goals.

Hiroyuki Mesaki, Country Head of SMBC India, highlighted the significance of this financing in promoting access to resources for underserved communities. Rakesh Garg, Chief Business Officer of SMBC India, noted that the deal sets new benchmarks and opens avenues for more Indian firms to access the Japanese Yen loan markets.

Sanjay Kulshreshta, Chairman and Managing Director of HUDCO, expressed optimism about meeting increased demand for infrastructure services amid India’s focus on sustainable growth. He emphasized that the syndicated loan will diversify HUDCO’s funding sources and optimize costs, positioning the corporation for enhanced operational efficiency and broader societal impact.

This milestone underscores HUDCO’s strategic approach to leveraging international markets for sustainable urban development, aligning with India’s broader economic ambitions.


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