Shriram Finance, India’s second-largest non-bank lender, successfully raised $300 million through an international transaction model using asset-backed securities (ABS). The funds were secured at a lower interest rate than the initial guidance, driven by strong investor demand. The transaction involved securitizing part of Shriram Finance’s loan portfolio and selling it to international investors. The ABS transaction enhances the issuer’s credit rating and involves converting onshore ABS to US dollars using a foreign exchange swap.