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Shriram Transport Finance issues 11B rupees of debentures

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Shriram Transport Finance issues 11B rupees of debentures

Shriram Transport Finance Co. Ltd. issued 11 billion Indian rupees worth of nonconvertible debentures on a private placement basis.

The secured redeemable debentures were allotted March 29, the company said the same day. The notes were issued in four tranches with tenures of 457 days to three years from the date of allotment.

The first and second tranches bear a coupon rate compounded annually, while the third tranche was priced with a coupon of 8.10% per year. The fourth tranche carries a zero coupon rate.

As of March 29, US$1 was equivalent to 64.88 Indian rupees.