28 May 2020 | 7:33 AM


Shriram Transport Finance raises around Rs 3556 cr via bond issue
  Shriram Transport Finance Company Ltd. | 17 Jan 2020 | 10:51 AM
Published on 01-10-2020
Shriram Transport Finance Company on Friday said it has raised USD 500 million (approximately Rs 3556 crore) through bond issue.

The proceeds from the bond would be used to generate employment the company said in a regulatory filing.

Shriram Transport Finance Company (STFC) said it has "successfully priced a USD 500 million fixed rate senior secured 144A/Reg S bond for a 3.5 year tenor at 5.100 per cent".

STFC`s bond transaction also marks the first international public social bond issuance from India it stated.

"This marks the fourth successful USD bond issuance by the company since the relaxation in the external commercial borrowings (ECB) guidelines" it said.

The bond got overwhelming response from investors as per the filing.

The shares of STFC were trading at Rs 1147.80 a piece on BSE.