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Shriram Transport Finance raises Rs 500 crore via bonds

STFC has offered rated, listed, secured, redeemable, non-convertible debentures on private placement basis for an issue size up to Rs 500 crore.

PTI|
Last Updated: Feb 26, 2020, 09.26 PM IST
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New Delhi: Shriram Transport Finance Company (STFC) has raised up to Rs 500 crore by issuing bonds on private placement basis.

"The Allotment Committee - NCDs of the company in its meeting held today approved and allotted rated, listed, secured, redeemable, non-convertible debentures (NCD) of face value of Rs 10 lakh each on private placement basis," the company said in a regulatory filing.

STFC has offered rated, listed, secured, redeemable, non-convertible debentures on private placement basis for an issue size up to Rs 500 crore, it said.

While 3,000 debentures worth Rs 300 crore with tenure of 3 years and 1 day will carry coupon rate of 9.50 per cent, 2,000 debentures worth Rs 200 crore with 2 years and 2 days tenure will have rate of 9.25 per cent per annum, it added.

Shares of the company on Wednesday closed 3.38 per cent lower at Rs 1,276.75 on the BSE.

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