Shriram Transport Finance Co. Ltd. established a medium-term note program of up to 50 billion Indian rupees, S&P Global Ratings said Feb. 22.

The medium-term note program has performance-related agreements, which if breached could result in an event of default or early redemption of bonds.

As of Feb. 22, US$1 was equivalent to 64.98 Indian rupees.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.