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India's Shriram Transport raises 10.35B rupees via debt issue

Shriram Transport Finance Co. Ltd. raised 10.35 billion Indian rupees by issuing debentures on a private placement basis.

The debentures were offered in two tranches and allotted March 28, according to a same-day filing.

One tranche comprised 9.95 billion rupees worth of 10-year debentures with a 9.00% annual coupon. The other comprised 400 million rupees worth of debentures with a tenor of 7 years and 1 month, and a 8.95% coupon.

As of March 28, US$1 was equivalent to 65.16 Indian rupees.