By Sarah Lizee
Olympia, Wash., Nov. 20 – India’s Shriram Transport Finance Co. Ltd. informed the Bombay Stock Exchange that its allotment committee met on Tuesday and approved and allotted Rs. 2.5 billion of secured redeemable nonconvertible debentures due 2021.
The debentures carry a coupon based on the benchmark rate plus a spread. Initially the coupon is 9.8% and will be reset on March 11, 2019 and again on March 11, 2020.
The 2,500 rated and listed debentures, with a face value of Rs. 1 million each, were issued on a private placement basis.
Shriram Transport provides financing for commercial vehicles and is based in Mumbai.
| Issuer: | Shriram Transport Finance Co. Ltd.
|
| Issue: | Secured redeemable rated listed nonconvertible debentures
|
| Amount: | Rs. 2.5 billion
|
| Coupon: | 9.8%, to be reset each year based on the benchmark rate plus a spread
|
| Tenor: | Two years, three months and 19 days
|
| Allotment date: | Nov. 20
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