Northern Arc executes Rs 300-crore debt for Shriram City

Shriram City’s MLD insubstantial is besides disposable connected Northern Arc’s alternate concern level AltiFi.ai.

Chennai-headquartered Northern Arc, a fiscal services level and starring subordinate among diversified NBFCs, connected Tuesday said it has concluded a Rs 300 crore market-linked debentures (MLD) transaction with Shriram City Union Finance (Shriram City), acting arsenic a fiscal advisor for the deal. This was 1 of the largest single-tranche MLD issuances by Shriram City.

The issuance was subscribed by aggregate superior marketplace investors. Shriram City volition usage the proceeds to cater to the fiscal needs of customers crossed vehicle, consumer, MSME and golden finance.

Bama Balakrishnan, COO, Northern Arc Capital, said, “We are delighted to spouse with Shriram City Union Finance, 1 of the largest, diversified and well-governed NBFCs successful the country, for this landmark transaction. This unlocks deeper pools of capital, further retailising indebtedness marketplace investments and access. It besides showcases our platform’s quality to present customised solutions and capitalist reach.”

Shriram City’s MLD insubstantial is besides disposable connected Northern Arc’s alternate concern level AltiFi.ai.

Krithika Doraiswamy, VP, finance, Shriram City, said, “The closure of 1 of our largest single-tranche MLD issuances successful concern with Northern Arc Capital coincides with an important milestone successful our travel — financing of 1 crore two-wheelers. Our agelong enriching concern with the Northern Arc squad has not lone brought successful caller investors into our folds by their wide-reaching marketplace placement capability, but has besides brought successful structural ratio to our marketplace offerings.”