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India's Shriram Transport raises 22.91B rupees via debt issue

Shriram Transport Finance Co. Ltd. raised 22.91 billion Indian rupees through the allotment of debentures on a private placement basis.

The debentures were offered in six options, according to a March 27 filing.

The Indian company offered 5.25 billion rupees worth of 1,161-day zero-coupon debentures, 5.60 billion rupees of two-year debt with an 8.45% coupon and 9.20 billion rupees of five-year debentures with an 8.72% coupon.

Shriram Transport Finance also offered 24.99 billion rupees worth of 8.55% debentures that mature in three years, one month and 24 days; 1.15 billion rupees of 8.72% debentures maturing in four years, 11 months and 23 days; and 2.50 billion rupees of 8.72% debentures maturing in seven years, one month and 29 days.

As of March 27, US$1 was equivalent to 64.88 Indian rupees.