Relationship banking is back, to judge by an Indian finance company’s success is raising a new loan for infrastructure investment.
Srie Infrastructure Finance, a non bank financier, secured a $100 million loan from The Netherlands Development Finance Company (FMO), which it will onlend to local infrastructure projects.
A spokesman for the Indian firm said it has a “long-standing relationship with FMO”, which used to own a stake in Srie and has provided it with debt, equity and guarantee structures since 1997.
“The infrastructure market is important for India,” said an FMO spokesman. “And this loan can supply the credit demand of the sector now that there are limited channels for credit due to the global financial crisis.”
Srei will use the money for working capital and fresh private infrastructure investment.
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