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Shriram Finance Limited’s shares surged 6.59 per cent after the company raised $425 million and €40 million through a syndicated term loan transaction. The company said, this marks as the largest syndicated loan transaction for a private non-banking financial company for Shriram Finance.
The three-year External Commercial Borrowings (ECB) facility is structured as a Social Loan and was anchored by BNP Paribas, DBS Bank, Hongkong & Shanghai Banking Corporation, and Sumitomo Mitsui Banking Corporation, which served as the joint Mandated Lead Arrangers & Bookrunners, and Social Loan Coordinators.
Initially set as a $200 million equivalent facility with a green-shoe option, the transaction received strong interest, expanding to 16 lenders from Europe, the US, Asia, and Africa.
The company said, funds raised through this social loan will be used to support small entrepreneurs and vulnerable groups across India.
“The strong interest from the international investor community underscores the global confidence in our mission,” said Shriram Group’s Umesh Revankar.
The shares were up by 6.59 per cent to ₹2508 at 10.28 am on the BSE.
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