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Shriram Finance raises offshore loan for $1.28 billion


Published on 2024-12-18 15:40:48 - The Financial Express
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  • Apart from Kotak Mahindra Bank, banks and global financial institutions such as DBS Bank, First Abu Dhabi Bank, HSBC, International Finance Corporation, MUFG Bank, Standard Chartered Bank, SMBC acted as global coordinators.

Shriram Finance has secured an offshore loan amounting to $1.28 billion, which includes a $150 million loan from HSBC, $100 million from Bank of Baroda's IFSC unit, and $75 million from Union Bank of India's Sydney branch. This funding is part of a broader strategy to diversify its funding sources and manage its asset-liability balance. The loans are structured with a three-year term and a one-year grace period, aimed at supporting the company's growth and operational needs. This move also reflects Shriram Finance's proactive approach in tapping into international markets for capital, amidst a backdrop of increasing demand for credit in India.

Read the Full The Financial Express Article at:
[ https://www.financialexpress.com/business/banking-finance-shriram-finance-raises-offshore-loan-for-1-28-billion-3694809/ ]
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