Chennai-headquartered digital debt platform Northern Arc on Friday introduced that it has concluded a Rs 350-crore market-linked debentures (MLD) transaction with Shriram Transport Finance Firm (STFC). STFC is likely one of the largest asset financing NBFCs for the industrial car business within the nation, partnering with small truck house owners for all their assets-related wants.
That is the most recent in a collection of MLD transactions structured, executed and invested in by Northern Arc, by means of which it has facilitated debt funding for its companions throughout MSME financing, CV financing and gold loans.
Northern Arc mentioned the issuance was subscribed by a number of reputed capital market buyers. As a part of its industrial car finance section, Northern Arc has centered on the financing of used CVs that cater to the wants of driver-turned house owners, first-time customers, first-time consumers and small street transporters. These prospects, who’ve been impacted because of the pandemic, will profit from the proceeds of the transaction. STFC’s potential to succeed in these prospects and allow entry to credit score for debtors on the grassroots degree will guarantee substantial financial and social affect.
Bama Balakrishnan, COO, Northern Arc, mentioned, “The transaction exemplifies Northern Arc’s potential to create worth for companions throughout sizes and credit score scores. By customised product options, we’ve got been capable of evince the curiosity of recent buyers to our sectors and companions.”