Shriram Transport Finance To Raise Up To Rs 1,000 Crore Via Bonds
Shriram Transport Finance Company Ltd. on Thursday said it is looking to raise up to Rs 1,000 crore through bonds.
The base size of the issue is Rs 200 crore with an option to retain oversubscription aggregating up to Rs 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 company had raised around Rs 350 crore through the first tranche in July 2019.
"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 percent under various interest payment options.
The tranche-II issue will open for subscription on Jan. 6 and is scheduled to close on Jan. 22.
The bonds will be listed on the National Stock Exchange and the BSE.