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STFC to raise Rs 13.5 bn through NCDs, issue to open on October 15

It is part of the company's Tranch 2 issue of NCDs, with a base size of Rs 3 bn and an option to retain up to Rs 10.5 bn from oversubscription

Topics
Shriram Transport Finance Company  |  Stfc  |  Ncds

Advait Rao Palepu  |  Mumbai 

Shriram Transport Finance Company has proposed to raise up to Rs 13.5 billion through secured redeemable non-convertible debentures (NCDs) of the face value of Rs 1,000 each. The proposed issue has been rated 'CRISIL AA+/Stable' by CRISIL and 'IND AA+: Outlook Stable' by India Ratings and Research.

The funds will be used for onward lending, financing, and for repayment/prepayment of interest and principal of existing borrowings of the company. The NCDs have a fixed rate of interest, with seven different series. They are of tenures of three, five and 10 years, ...

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First Published: Fri, October 12 2018. 19:08 IST
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