Shriram Transport Finance Raises $500 Million In Debt
Indian five hundred rupee banknotes are arranged for a photograph in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Shriram Transport Finance Raises $500 Million In Debt

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Shriram Transport Finance Company Ltd. on Thursday said it has raised $500 million through social bonds, out of $3 billion fund raising plans approved by its board.

"We wish to inform you that the company has completed the issuance and allotment of 5.1 percent Senior Secured Notes (Social Bonds) for a sum of $500,000,000 under the $3,000,000,000 Global Medium Term Note Programme, through the relevant Common Depositories," the company said in a stock exchange filing.

The Banking and Finance Committee of the company on Jan. 9 had approved issuance of $500 million worth of 5.1 percent Senior Secured Notes due 2023 (Social Bonds) under the $3 billion Global Medium Term Note Programme established on Dec. 27, 2019.

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