Shriram Finance Limited (SFL) has raised $468 million, or roughly Rs 3.880 crore multi-currency social loan to fund corporate expansion.
As the joint mandated lead arrangers, book runners, and social loan coordinators, BNP Paribas, DBS Bank, Hongkong & Shanghai Banking Corporation (HSBC), and Sumitomo Mitsui Banking Corporation anchored the three-year (External Commercial Borrowing) ECB facility, according to a statement from SFL.
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Funds raised through a syndicated term loan deal total USD 425 million and EUR 40 million. The programme launched by SFL is consistent with its objective of improving financial service accessibility for India’s underbanked and unbanked populations. This social loan’s proceeds are intended to support underprivileged populations around the nation, including small business owners.
The range of financial services and products offered by Shriram Finance is impressive. These products and services address a range of requirements, such as small business and personal loans, loans for cars and motorcycles, loans for homes, loans for gold, and credit solutions for commercial vehicles. With assets under management (AUM) of Rs 2,24,862 crore, Shriram Finance has solidified its position as one of the top retail NBFCs in India.
This financial venture by SFL demonstrates not just its importance in the Indian financial scene but also its dedication to promoting inclusiveness and economic prosperity throughout the country.
Umesh Revankar, Executive Vice Chairman, 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. The strong interest from the international investor community underscores the global confidence in our mission,”
About Shriram Finance
Founded in 1979 by R. Thyagarajan, Shriram Finance is the country’s biggest retail NBFC offering credit solutions for commercial vehicles, two-wheeler loans, car loans, home loans, gold loans, personal and small business loans.
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