New Delhi, Shriram Finance Ltd (SFL) on Monday said it has raised US$468 million (about Rs 3.880 crore) in multi-currency funds to finance business growth.
The three-year (external commercial borrowing) ECB facility was structured as a social loan run by BNP Paribas, DBS Bank, the Hong Kong and Shanghai Banking Corporation (HSBC) and Sumitomo Mitsui Banking Corporation, as joint mandated lead arrangers and bookrunners. was the runner and social credit coordinator for the facility, SFL said in a statement.
This includes US$425 million and EUR 40 million raised through a syndicated term loan transaction.
It said that in line with its focus on increasing access to financial services in unbanked and underbanked areas, the funds raised through this social loan will be used to empower small entrepreneurs and vulnerable groups across India. Will go.
This is the largest syndicated multi-currency transaction by a private sector non-banking finance company, said Umesh Revankar, executive vice president, Shriram Finance.
He said, “This facility has been labeled as a social loan, reflecting our commitment to social impact similar to our priority sector initiatives with some strict exclusions. The strong interest from the international investor community in our mission to support the global Underpins belief."
SFL has a wide range of offerings ranging from credit solutions for commercial vehicles, two-wheeler loans, car loans, home loans, gold loans, personal and small business loans. Shriram Finance, one of the country's largest retail NBFCs, has assets under management (AUM) of Rs 2,24,862 crore. -- Dr
The three-year (external commercial borrowing) ECB facility was structured as a social loan run by BNP Paribas, DBS Bank, the Hong Kong and Shanghai Banking Corporation (HSBC) and Sumitomo Mitsui Banking Corporation, as joint mandated lead arrangers and bookrunners. was the runner and social credit coordinator for the facility, SFL said in a statement.
This includes US$425 million and EUR 40 million raised through a syndicated term loan transaction.
It said that in line with its focus on increasing access to financial services in unbanked and underbanked areas, the funds raised through this social loan will be used to empower small entrepreneurs and vulnerable groups across India. Will go.
This is the largest syndicated multi-currency transaction by a private sector non-banking finance company, said Umesh Revankar, executive vice president, Shriram Finance.
He said, “This facility has been labeled as a social loan, reflecting our commitment to social impact similar to our priority sector initiatives with some strict exclusions. The strong interest from the international investor community in our mission to support the global Underpins belief."
SFL has a wide range of offerings ranging from credit solutions for commercial vehicles, two-wheeler loans, car loans, home loans, gold loans, personal and small business loans. Shriram Finance, one of the country's largest retail NBFCs, has assets under management (AUM) of Rs 2,24,862 crore. -- Dr
