Published on 2/26/2020 in the Prospect News Emerging Markets Daily.
New Issue: Shriram Transport sells Rs. 5 billion debentures due 2022, 2023
By Sarah Lizee
Olympia, Wash., Feb. 26 – India’s Shriram Transport Finance Co. Ltd. informed the Bombay Stock Exchange that on Wednesday it allotted Rs. 5 billion of secured redeemable nonconvertible debentures in two parts.
The company sold Rs. 2 billion of 9¼% debentures due Feb. 28, 2022 and Rs. 3 billion of 9½% debentures due Feb. 27, 2023.
The company provides financing for commercial vehicles and is based in Mumbai.
| Issuer: | Shriram Transport Finance Co. Ltd.
|
| Issue: | Secured redeemable nonconvertible debentures
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| Amount: | Rs. 5 billion
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| Allotment date: | Feb. 26
|
|
|
| Two-year tranche
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| Amount: | Rs. 2 billion
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| Maturity: | Feb. 28, 2022
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| Coupon: | 9¼%
|
|
|
| Three-year tranche
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| Amount: | Rs. 3 billion
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| Maturity: | Feb. 27, 2023
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| Coupon: | 9½%
|
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