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Shriram Transport Finance to raise USD 500 mn via secured notes

Press Trust of India  |  New Delhi 

Asset financing firm Tuesday said it will raise USD 500 million (approx Rs 3,475.50 crore) through issuance of secured notes.

Shriram Transport Finance said it plans to use the proceeds from the fund raise for onward lending and other activities as may be permitted by the External Commercial Borrowings (ECB) directions.

"The bond issuance committee has approved issuance of USD 500,000,000 (approx Rs 3,475.50 crore) senior secured notes under the USD 2,000,000,000 global medium term note programme...The company is signing the pricing supplement in this regard," said in a BSE filing.

said these notes, have tenure of 3.5 years and carry an interest rate of 5.95 per cent per annum payable semi-annually. They will be listed on the Singapore Exchange Securities Trading Ltd.

Shares of Shriram Transport Finance Company were trading 1.40 per cent higher at Rs 1,238.95 apiece on BSE.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 16 2019. 11:05 IST
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