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Shriram Transport Finance to raise 1.90B rupees in note issue

Shriram Transport Finance Co. Ltd. plans to raise 1.90 billion Indian rupees through the issuance of fixed-rate notes.

The notes were priced with an interest rate of 8.10% per year and will mature June 8, 2023, according to a March 17 filing with the BSE.

The notes will be issued under the company's 50-billion-rupee medium-term note program on or after March 21. They will be listed on the Singapore Exchange Securities Trading Ltd.

As of March 15, US$1 was equivalent to 64.98 Indian rupees.