Shriram Finance Raises $468 Mln Via Multi-Currency Loan

Shriram Finance Ltd. said it raised a total of $468 million through a multi-currency syndicated term loan transaction.

The company secured $425 million and 40 million euros ($43 million) recently, marking its largest ever syndicated loan transaction, the non-bank lender said in a stock exchange announcement.

Shriram Finance said the three-year external commercial borrowings facility was structured as a social loan anchored by BNP Paribas, DBS Bank, Hongkong & Shanghai Banking Corporation and Sumitomo Mitsui Banking Corporation.

They acted as the joint mandated lead arrangers as well as bookrunners and social loan coordinators for the facility, it added.

The company said this multi-currency deal started as $200 million equivalent facility with a greenshoe option and the transaction saw a bumper response from syndication market, with final lender group expanding to 16 lenders.

The lenders included banks from four continents panning across Europe, US, Asia (North Asia, South-East Asia, Middle east) and Africa (Mauritius).

Shriram Finance said the funds raised through this social loan will be used to empower small entrepreneurs and vulnerable groups across India.

The company provides a wide range of solutions, including credit for commercial vehicles, two-wheeler loans, car loans, home loans, gold loans, personal and small business loans, according to the statement.

Note $1: 0.92184 euros

(Send feedback to editor@cornerofficejournal.com)