Shriram Transport Finance raises Rs 660 cr via bonds

Shriram Transport Finance has raised Rs 660 crore by issuing bonds on private placement basis.

The company said in a regulatory filing said its board committee has approved and allotted "6,600 secured redeemable Non-Convertible Debentures (NCDs) aggregating to Rs 660 crore on private placement basis".

The NCDs will bear face value of Rs 10 lakh each.

The bonds having tenure of four years and 11 months carries coupon rate of 8.3 per cent per annum.

A part of the Shriram group, Shriram Transport Finance is mainly engaged into financing of small truck owners.