Shriram Finance raises USD 468-mn multi-currency social loan
Shriram Finance Limited raised USD 468 million in multi-currency for business growth through a social loan structured by leading banks, marking the largest syndicated transaction by a private NBFC.
(SFL) on Monday said it has raised USD 468-million (about Rs 3.880 crore) in to fund . The three-year () was structured as a anchored by , , Hongkong & Shanghai Banking Corporation () and , who were the joint mandated lead arrangers and book runners and social loan coordinators for this facility, SFL said in a statement.The fundraise comprises USD 425 million and EUR 40 million through a syndicated term loan transaction, it said.
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, it said.
This marks the largest syndicated multi-currency transaction by a private sector , said Umesh Revankar, executive vice chairman of Shriram Finance.
"This facility is labelled as a social loan, reflecting our commitment to social impact similar to our priority sector initiatives, with certain strict exclusions. The strong interest from the international investor community underscores the global confidence in our mission," he said.
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. As one of the country's largest retail NBFCs, Shriram Finance has Assets under Management (AUM) of Rs 2,24,862 crore.
Source: Stocks-Markets-Economic Times
