By Susanna Moon
Chicago, July 18 – India’s Shriram Transport Finance Co. Ltd. notified the Bombay Stock Exchange that it approved the issue of Rs. 9.8 billion of secured redeemable debentures.
Under option 1, the company is offering zero-coupon notes due in five years and, under option 2, 7.7125% notes due in 25 months.
The company will issue 9,800 notes with a face value of Rs. 1 million each in a private placement, according to the notice.
The issue was approved at a meeting held Tuesday.
Shriram provides financing for commercial vehicles and is based in Mumbai.
| Issuer: | Shriram Transport Finance Co. Ltd.
|
| Issue: | Secured redeemable debentures
|
| Amount: | Rs. 9.8 billion
|
| Tenors: | Five years, 25 months
|
| Coupon: | 0% for five-year notes, 7.7125% for 25-month notes
|
| Put option: | Yes for 0% notes
|
| Allotment date: | July 18
|
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