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Shriram Transport Finance raises 5.5B rupees in debt issue

Shriram Transport Finance Co. Ltd. raised 5.5 billion Indian rupees through the issue of nonconvertible debentures on a private placement basis.

The debentures were issued in two tranches. The two-year debentures carry an annual coupon of 7.95%, while the 18-month debentures bear a coupon of 7.85% per year.

As of June 12, US$1 was equivalent to 64.48 Indian rupees.