By Susanna Moon
Chicago, June 9 – India’s Shriram Transport Finance Co. Ltd. notified the Bombay Stock Exchange that it approved the issue of Rs. 3.5 billion zero-coupon secured redeemable debentures.
Under option 1, the company is offering notes due in two years and, under option 2, notes due in three years.
The company will issue 3,500 notes with a face value of Rs. 1 million each in a private placement, according to the notice.
The issue was approved at a meeting held Friday.
Shriram provides financing for commercial vehicles and is based in Mumbai.
| Issuer: | Shriram Transport Finance Co. Ltd.
|
| Issue: | Secured redeemable debentures
|
| Amount: | Rs. 3.5 billion
|
| Tenors: | Two years, three years
|
| Coupon: | 0%
|
| Put option: | Yes
|
| Allotment date: | June 9
|
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