India’s Shriram Transport Finance board to consider nonconvertible debt

By Tali Rackner

Minneapolis, April 20 – Shriram Transport Finance Co. Ltd. informed the Bombay Stock Exchange that its board of directors will meet on April 27 to consider approval of notice of 38th annual general meeting that includes resolutions proposing the enhancement of borrowing limits and a private placement of nonconvertible debentures.

As previously reported, the board announced plans to consider raising funds through various options of borrowings, including by way of issue of redeemable nonconvertible debentures/subordinated debentures (public issue/private placement), rupee-dominated bonds in off-shore markets (Masala bonds), External Commercial Borrowing (ECB) and other methods of borrowing for purpose of business during the financial year 2017-2018.

Shriram Transport provides financing for commercial vehicles and is based in Mumbai.

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