By Sarah Lizee
Olympia, Wash., March 23 – Shriram Transport Finance Co. Ltd. informed the Bombay Stock Exchange that its allotment committee met on Friday and approved and allotted Rs. 1.05 billion of unsecured redeemable nonconvertible subordinated debt on a private placement basis in two options.
In option 1, Shriram issued Rs. 50 million 8.2% debentures.
The company originally issued Rs. 1 billion of the 10-year securities on Oct. 17, 2017. It then issued Rs. 1 billion more on Nov. 29, Rs. 350 million on Dec. 5, Rs. 100 million on Dec. 20, Rs. 150 million on Dec. 28, Rs. 140 million on Feb. 23, Rs. 50 million on March 15 and Rs. 100 million on March 19.
The tenor of the most recent allotment is nine years, six months and 22 days.
In option 2, Shriram issued Rs. 1 billion 9% 10-year debentures.
The Mumbai-based company provides financing for commercial vehicles.
| Issuer: | Shriram Transport Finance Co. Ltd.
|
| Issue: | Unsecured redeemable nonconvertible subordinated debentures
|
| Amount: | Rs. 1.05 billion
|
| Allotment date: | March 23
|
|
|
| Option 1
|
| Amount: | Rs. 50 million
|
| Tenor: | Nine years, six months and 22 days
|
| Coupon: | 8.2%
|
|
|
| Option 2
|
| Amount: | Rs. 1 billion
|
| Tenor: | 10 years
|
| Coupon: | 9%
|
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