SREI Infrastructure Finance’s JV hikes benchmark rate by 25 bps

Srei BNP Paribas, an industry leader in infrastructure and construction equipment financing, has hiked its benchmark rate by 25 basis points (bps), from 17% to 17.25%, with immediate effect. Srei BNP Paribas is a 50:50 joint venture (JV) between Srei Infrastructure Finance and French banking giant BNP Paribas.

The company’s Asset Liability Management Committee after reviewing the cost of borrowing, decided to increase its benchmark rate.  This has been necessitated because of continuing increase in borrowing cost due to market and regulatory factors. The company had last increased its rate in November 2011 by 100 basis points.

SREI Infrastructure Finance’s businesses include infrastructure equipment leasing and finance, infrastructure project finance, advisory and development, insurance broking, venture capital, capital market and Sahaj e -Village. The company has been financing in the infrastructure sector for the last 22 years and has a customer base of over 30,000 all over the country.