NIB and Srei Equipment Finance launch lending and leasing facility in India

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Spread across an area of 8000 sq. ft., the space offers a sitting capacity of more than 300 people

The Nordic Investment Bank (“NIB”) and Srei Equipment Finance Limited (“SEFL”), a leader in construction and mining equipment financing in India, have agreed on a loan programme for financing the acquisition or leasing of industrial equipment designed or produced in the NIB’s member countries.

The new loan programme totals EUR 20 million and has a maturity of eight years. The funds from the programme will be used to finance acquisitions and leasing of industrial equipment designed or supplied by equipment manufacturers in NIB’s member countries to Indian enterprises.

Commenting on the programme, Devendra Kumar Vyas, CEO, Srei Equipment Finance Limited said: “Being facilitated by NIB befits our core business model of deriving differentiation from strong OEM, customer and stakeholder relationships. This facility would enable OEMs and customers of the Nordic region to understand the thriving opportunities in the Indian construction equipment market, through Srei, and participate in the growth story. For us, it is a win-win situation and we stand committed with NIB to accomplish our common objectives.”

“The construction sector in India has been experiencing significant growth over the past few years, and with it, the demand for equipment leasing has gone up. The loan facility agreed by SEFL and NIB will provide financing and support cooperation between Indian enterprises and Nordic equipment manufacturers,” said Henrik Normann, NIB President and CEO.

About Srei Equipment Finance Limited (“SEFL”)

Srei Equipment Finance Limited (“SEFL”), a wholly-owned subsidiary of Srei Infrastructure Finance Limited, is an industry leader in construction and mining equipment financing. The company enjoys a pan-India presence with 90 branches as on August 31, 2018. SEFL has an experienced management team having significant expertise in the financial services sector.

About Nordik Investment Bank (“NIB”)

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.