Srei Equipment secures €10-mn offshore financing

Srei Equipment Finance (SEFL) has received a funding of 10 million euro from Germany-based KfW IPEX-Bank. With the successful closure of this export financing transaction, KfW IPEX-Bank is enabling export of construction machinery for SEFL to India. The bank is helping to provide modern and energy-efficient construction machinery for use in the Indian infrastructure projects. The financed machinery products include asphalt machines, road pavers and rollers. Devendra Kumar Vyas, MD, SEFL, informed that it is encouraging to witness KfW IPEX-Bank's continued partnership as Srei believes in creating an equipment life cycle solution for our customers and in that endeavour, manufacturer partnerships become crucial. This initiative will help its German and European manufacturing partners to benefit from strong customer connect, in addition to the agile risk understanding in credit buying. Andreas Ufer, member of the management board of KfW IPEX-Bank informed that the company looks forward to more such programs and in these times it is important to support the German and European export industry. The financing is backed by cover from credit insurer Euler Hermes.