HomeFirst raises its maiden green housing focused long-term debt from IFC

Home First Finance Company India has further diversified its borrowing sources with the latest fund raise from IFC, through the issuance of INR denominated, senior secured, rated, unlisted, redeemable Non-Convertible Debentures with a tenor of up to seven years. The proceeds will be utilized to provide financing for retail buyers of affordable housing and green affordable housing units, encouraging home ownership for low-income segments, and supporting the development of green affordable housing.

Under the arrangement, IFC will also provide non-financial support in terms of knowledge, innovation and capacity building through the advisory engagement and non-commercial risk mitigation through IFC Advisory services. IFC will support HomeFirst in developing its green housing framework, including technical support for green housing evaluation parameters, operationalizing certification process and capacity building on green housing certification, monitoring and reporting. IFC estimates a US$3.1 trillion climate-related investment opportunity for India between 2018 to 2030, with green buildings accounting for a major portion of this opportunity at US $1.4 trillion.

 

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