Shriram Finance raises $500-M via Italy’s SACE ECB loan

Chennai-based, publicly listed non-banking financial company (NBFC) Shriram Finance Ltd (SFL) has raised USD 500 million via SACE External Commercial Borrowing (ECB) push loan facility, with a tenor of 10 years. SACE is an Italian export credit agency run under the government of Italy. The loan saw participation from global financial institutions, including HSBC, Deutsche Bank, KfW IPEX-Bank, ING Bank and J P Morgan. The proceeds will be used to provide financing for Italian vehicles and equipment.