BackShriram Transport Finance bonds to offer 8.52-9.10%
Shriram Transport Finance will be offering a coupon in the range of 8.52-9.10% under various interest payment optionsThe issue will open for subscription on January 6
PremiumShriram Transport Finance on Thursday said it is looking to raise up to ₹1,000 crore through bonds. The base size of the issue is ₹200 crore with an option to retain oversubscription aggregating up to ₹1,000 crore, the company said in a release.
This is the second tranche of bonds to be issued by the non-banking finance company.
"The funds raised will be used for onward lending, financing and for repayment/ prepayment of interest and principal of existing borrowings of the company and for general corporate purposes," the release said.
It is offering three- and five-year bonds with monthly, annual and cumulative interest payment options and seven-year bonds with monthly and annual interest payment options.
The bonds will be offering a coupon in the range of 8.52-9.10% under various interest payment options.
The tranche-II issue will open for subscription on January 6 and is scheduled to close on January 22.
The bonds will be listed on the National Stock Exchange and the BSE.
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