In 2016 IL&FS Transportation (ITNL) secured a USD 50mn loan from Export Development Canada (EDC) under the Rupee ECB facility, towards refinancing debt and general corporate purposes. With a view to enhance the co-operation between IL&FS Group and Canada, in the infrastructure sector, IL&FS had entered into a Memorandum of Understanding with EDC in September 2015.


Innovations and Impact

  1. IL&FS Financial Services became the first Indian company to raise money through a Masala Loan — a rupee-denominated loan from overseas investors.
  2. By borrowing in local currency IL&FS Financial Services minimises the risk of currency fluctuation as hedging costs are borne by the lender.
  3. This was the first landmark deal between EDC and the IL&FS Group.


November 2016 Transaction Completed



IL&FS Transportation

IL&FS Financial Services Limited (IFIN)

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