SREI INFRASTRUCTURE FINANCE LIMITED 
By Srei BNP Paribas raises its benchmark rate by 50 basis points
Kolkata, August 20, 2013: Srei BNP Paribas, industry leader in infrastructure and construction equipment financing, has announced a hike in its benchmark rate by 50 basis points, from 17.25% to 17.75%, with immediate effect.
The Company's Asset Liability Management Committee met here and after reviewing the cost of borrowing, decided to increase its benchmark rate. This has been necessitated because of the continuing increase in borrowing cost. Srei BNP Paribas had last increased its SBR in July 2012 by 25 basis points.
D K Vyas, CEO, Srei BNP Paribas, said, "Increasing cost of borrowing has necessitated this increase in rate which is expected to increase further. This interest rate increase comes at a time when fund flow to the infrastructure sector has been slightly restrained by banks because of a host of issues affecting the sector. However, our rate hike has become imperative to maintain the quality of our portfolio. Premised on a relationship model, we affirm our commitment to our long standing customers and will continue to be a steadfast partner in their growth."About Srei BNP Paribas
Srei BNP Paribas (Registered name: Srei Equipment Finance Private Limited) is a 50:50 joint-venture between Srei Infrastructure Finance Limited, India's leading private sector Non Banking Financial Institution in the infrastructure space, and BNP Paribas, France. Srei BNP Paribas is aptly benefitting from the Indian expertise and network of Srei and global leasing insight in diverse product classes of BNP Paribas.
With over 30% market share and a client base of over 28,000, Srei BNP Paribas is the industry leader in infrastructure and construction equipment financing. Srei BNP Paribas has been successfully catering to the equipment finance requirement of varied industry verticals during its 24 years journey.
It has deep insight on the diverse equipment used in the infrastructure and construction sector having partnered with almost all construction equipment manufacturers thereby ensuring that the customers get the best deal. As the largest construction equipment financier, it finances almost all kinds of construction equipment. It is considered as the pioneer in financing the largest range of imported sophisticated equipment for infrastructure,
construction and mining industry.
Over the years, Srei BNP Paribas has been innovating new marketing programmes like, Paison Ki Nilami, Srei BNP Paribas Partnership Week (SPW) and Khul Ja Sim Sim, to bring together the manufacturers and customers on a single platform, creating immense value and sharing this value with all stake holders.
Extrapolating its expertise in infrastructure equipment financing, Srei BNP Paribas is now financing new equipment classes: technology solutions (IT equipment, software and services), healthcare, office automation and education sector equipment.
With an Asset Under Management of over ` 19,400 crore, Srei BNP Paribas has grown from strength to strength enjoying a strong national presence with a network of over 85 offices across India.
Manager
Corporate Communication and Brand Management
Srei Infrastructure Finance Limited
Phone: +91 33 6602 3712
Email: swati.singh@srei.com
|
distributed by
|
