Shriram Finance Ltd. said it had raised $425 million and EUR 40 million through a syndicated term loan transaction. The funds raised through the social loan would be used to empower small entrepreneurs and vulnerable groups across India, the company said.
This is the largest widely syndicated loan transaction for a private non-banking financial company (NBFC) from India in recent years, and the largest ever syndicated loan transaction by Shriram Finance, the flagship firm of the Shriram Group said in a statement.
The three-year external commercial borrowing facility was structured as a social loan anchored by BNP Paribas, DBS Bank, HSBC and Sumitomo Mitsui Banking Corporation, who were the joint mandated lead arrangers and bookrunners and social loan coordinators for this facility, Shriram Finance said.
“This facility is labelled as a social loan, reflecting our commitment to social impact similar to our priority sector initiatives, with certain strict exclusions,” said Vice Chairman Umesh Revankar.
Shriram Finance offers loans for purchase of commercial vehicles, two-wheelers and cars. Besides, it offers home loans, gold loans, personal and small business loans. It has assets under management of ₹2.25 lakh crore.
Published - June 03, 2024 09:21 pm IST
