By Marisa Wong
Morgantown, W.Va., Feb. 23 – Shriram Transport Finance Co. Ltd. informed the Bombay Stock Exchange that it allotted Rs. 140 million of 8.2% redeemable non-convertible subordinated debt on Friday.
The 140 rated and listed securities, with a face value of Rs. 1 million each, were issued on a private placement basis.
This is Shriram’s sixth tranche of 8.2% debentures due October 2027. The company issued the original Rs. 1 billion on Oct. 17, another Rs. 1 billion on Nov. 29, an additional Rs. 350 million on Dec. 5, a further Rs. 100 million on Dec. 20 and, most recently, an additional Rs. 150 million on Dec. 28.
The Mumbai-based company provides financing for commercial vehicles.
| Issuer: | Shriram Transport Finance Co. Ltd.
|
| Issue: | Redeemable non-convertible subordinated debentures
|
| Amount: | Rs. 140 million
|
| Maturity: | October 2027
|
| Coupon: | 8.2%
|
| Allotment date: | Feb. 23
|
| Distribution: | Private placement
|
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