BRAC, the Bangladesh-based non-government organisation, closed the triple-A rated deal, backed by receivables from micro-credit loans to individuals in rural Bangladesh.
This transaction is denominated in Bangladesh taka and will provide an aggregate of BDT12.6 billion $180 million of financing for BRAC over of six years. Under the programme BDT1 billion $15 million will be disbursed every six months to BRAC, with a maturity of one year.
The securitised pool of micro-credit...
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