Shriram Transport Finance will raise up to USD 250 mn from overseas bonds to expand its ongoing programme. On Thursday Shriram Transport Finance Company said in a regulatory filing, the bond issuance committee of company approved the issuance of USD 250 million (over Rs 1,700 crore) senior secured notes under its USD 2000 million global medium term note programme.
It added, the company will use the proceeds for onward lending and other actions as may be permitted by the ECB directions.
The date of issuance of the bonds is July 17, 2019 and the maturity date is 24 October, 2022. Of which, the coupon rate on the bonds is 5.950 per cent per annum payable semi-annually. STFC added it plans to list the bonds on the Singapore Exchange Securities Trading. Stocks of STFC traded 0.76 per cent higher at Rs 1,051 on the BSE.