Shriram Finance jumps on raising multi currency social loan via syndicated transaction
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Shriram Finance is currently trading at Rs. 2525.30, up by 172.45 points or 7.33% from its previous closing of Rs. 2352.85 on the BSE.
The scrip opened at Rs. 2453.95 and has touched a high and low of Rs. 2547.80 and Rs. 2452.70 respectively. So far 58701 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2658.00 on 03-May-2024 and a 52 week low of Rs. 1390.20 on 16-Jun-2023.
Last one week high and low of the scrip stood at Rs. 2547.80 and Rs. 2292.85 respectively. The current market cap of the company is Rs. 94716.21 crore.
The promoters holding in the company stood at 25.42%, while Institutions and Non-Institutions held 69.59% and 5.00% respectively.
Shriram Finance (SFL) has completed a significant fund-raising effort, securing $425 million and EUR 40 million through a syndicated term loan transaction. This marks the largest widely syndicated loan transaction for a private non-banking financial company (NBFC) from India in recent years, and it is the largest ever syndicated loan transaction by Shriram Finance.
This achievement follows closely on the heels of a previous successful transaction where SFL raised $404 million. The success of these transactions highlights the strong acceptability and confidence that lenders have in Shriram Finance's financial stability and business model. The three year ECB facility was structured as a Social Loan anchored by BNP Paribas (BNPP), DBS Bank (DBS), Hongkong & Shanghai Banking Corporation (HSBC) and Sumitomo Mitsui Banking Corporation (SMBC), who were the joint Mandated Lead Arrangers & Bookrunners and Social Loan Coordinators for this facility.
This multi-currency deal started as $200 million equivalent facility with a greenshoe option. The transaction saw a bumper response from syndication market, with final lender group expanding to 16 lenders. This included banks from 4 continents panning across Europe, US, Asia (North Asia, South-East Asia, Middle east) and Africa (Mauritius).
Shriram Finance (Formerly Shriram Transport Finance Company) is one of the largest asset financing NBFC in the country and holistic finance provider for the commercial vehicle industry and seeks to partner small truck owners for every possible need related to their assets.
