Published on 11/2/2018 in the Prospect News Emerging Markets Daily.
New Issue: Shriram Transport allots Rs. 6.07 billion debentures in seven parts
By Sarah Lizee
Olympia, Wash., Nov. 2 – India’s Shriram Transport Finance Co. Ltd. informed the Bombay Stock Exchange that its allotment committee met on Friday and approved and allotted Rs. 6.07 billion of secured redeemable nonconvertible debentures on a private placement basis in seven options.
In the first three options, Shriram issued Rs. 946.32 million of 9.12% debentures due Nov. 2, 2023, Rs. 323.4 million of 9.3% debentures due Nov. 2, 2028 and Rs. 2.08 billion of 9.4% debentures due Nov. 2, 2021.
The company also issued Rs. 1.14 billion of 9½% debentures due Nov. 2, 2023, Rs. 389.83 million of 9.7% debentures due Nov. 2, 2028, Rs. 766.23 million of zero-coupon debentures due Nov. 2, 2021 and Rs. 421.3 million of zero-coupon debentures due Nov. 2, 2023.
The debentures will be listed on the BSE Ltd. and National Stock Exchange of India Ltd.
The Mumbai-based company provides financing for commercial vehicles.
| Issuer: | Shriram Transport Finance Co. Ltd.
|
| Issue: | Secured redeemable nonconvertible debentures
|
| Amount: | Rs. 6,067,919,000
|
| Allotment date: | Nov. 2
|
|
|
| Option 1
|
| Amount: | Rs. 946,320,000
|
| Coupon: | 9.12%, payable monthly
|
| Tenor: | Five years
|
| Maturity: | Nov. 2, 2023
|
|
|
| Option 2
|
| Amount: | Rs. 323,399,000
|
| Coupon: | 9.3%, payable monthly
|
| Tenor: | 10 years
|
| Maturity: | Nov. 2, 2028
|
|
|
| Option 3
|
| Amount: | Rs. 2,077,690,000
|
| Coupon: | 9.4%, payable annually
|
| Tenor: | Three years
|
| Maturity: | Nov. 2, 2021
|
|
|
| Option 4
|
| Amount: | Rs. 1,143,155,000
|
| Coupon: | 9½%, payable annually
|
| Tenor: | Five years
|
| Maturity: | Nov. 2, 2023
|
|
|
| Option 5
|
| Amount: | Rs. 389,833,000
|
| Coupon: | 9.7%, payable annually
|
| Tenor: | 10 years
|
| Maturity: | Nov. 2, 2028
|
|
|
| Option 6
|
| Amount: | Rs. 766,225,000
|
| Coupon: | 0%
|
| Tenor: | Three years
|
| Maturity: | Nov. 2, 2021
|
|
|
| Option 7
|
| Amount: | Rs. 421,297,000
|
| Coupon: | 0%
|
| Tenor: | Five years
|
| Maturity: | Nov. 2, 2023
|
|
|
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