By Tali Rackner
Norfolk, Va., March 30 – Shriram Transport Finance Co. Ltd. informed the Bombay Stock Exchange that its board of directors met on Thursday and approved and allotted Rs. 3.8 billion of secured redeemable nonconvertible debentures in three options.
The first option has an 8.1% coupon and a tenor of 1,156 days. The second option, with a tenor of three years, has a coupon of 8.1% for the first year and one-year CD rate plus 1.5% for the second and third years. The third option has an 8.15% coupon and a tenor of five years.
The 3,800 rated and listed debentures, with a face value of Rs. 1 million each, were issued on a private placement basis.
The Mumbai-based company provides financing for commercial vehicles.
| Issuer: | Shriram Transport Finance Co. Ltd.
|
| Issue: | Secured redeemable nonconvertible debentures
|
| Amount: | Rs. 3.8 billion
|
| Allotment date: | March 30
|
|
|
| Option 1
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| Coupon: | 8.1%
|
| Tenor: | 1,156 days
|
|
|
| Option 2
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| Coupon: | 8.1% for the first year; one-year CD rate plus 1.5% for years two and three
|
| Tenor: | Three years
|
|
|
| Option 3
|
| Coupon: | 8.15%
|
| Tenor: | Five years
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