Shriram Finance share price recouped its earlier losses during Thursday’s trading session and showed slight gains in the latter half after the Non-Banking Financial Company (NBFC) announced it will utilise the SACE External Commercial Borrowing Loan Facility exceeding USD 500 million.
The company announced in its exchange filing that it has secured a significant External Commercial Borrowing (ECB) SACE Push loan facility. This deal marks the biggest loan facility covered by SACE, an Italian export credit agency governed by Italy’s Ministry of Economy & Finance, ever obtained by a NBFC in India.
“Shriram Finance’s collaboration with SACE reaffirms its ability to structure innovative funding solutions that align with its long-term business strategy,” said the company in an exchange filing.
Further, the NBFC announced that through this latest deal, Shriram Finance has managed to acquire more than USD 2.50 billion in offshore funding during the current financial year, marking the highest amount achieved by any NBFC in India for structured finance and sustainable funding efforts.
