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Mumbai-based Shriram Finance Limited (SFL) announced that it has raised USD 468 million in multi-currency to fund business growth.
Funds were raised through a syndicated term loan deal of USD 425 million and EUR 40 million.
According to SFL, the three year ECB facility was structured as a Social Loan anchored by BNP Paribas (BNPP), DBS Bank (DBS), Hong Kong and Shanghai Banking Corporation (HSBC), and Sumitomo Mitsui Banking Corporation (SMBC), who were the joint mandated lead arrangers, bookrunners, and social loan coordinators for this facility.
In line with its focus on increasing the accessibility of financial services to the unbanked and underbanked sectors, the funds raised through this social loan will be used to empower small entrepreneurs and vulnerable groups across India.
Umesh Revankar, Executive Vice Chairman of Shriram Finance Limited, said, “This marks the largest syndicated multi-currency transaction by a private sector non-banking finance company. The strong interest from the international investor community underscores global confidence in our mission.”
SFL has a wide range of offerings ranging from credit solutions for commercial vehicles, two-wheeler loans, car loans, home loans, gold loans, personal loans, and small business loans. It claims to have assets under management (AUM) of INR 2,24,862 crore.
