Shriram Transport Finance completes allotment of USD 500 million social bonds; stock gains ~1.5%

The allotment was done under the USD 3 billion Global Medium Term Note Programme, through the relevant Common Depositories for a sum of USD 499.950 million.

Jan 14, 2021 05:01 IST India Infoline News Service

Shriram Transport Finance Company
Shriram Transport Finance Company Limited (STFC) has completed the issuance and allotment of USD 500 million, 4.40% senior secured Notes due 2024 (Social Bonds) under the USD 3 billion Global Medium Term Note Programme, through the relevant Common Depositories for a sum of USD 499.950 million.

The company had intimated about the upsized USD 3,000,000,000 Global Medium Term Note Programme through Offering Circular dated December 27, 2019 for issuance of debt securities in the international markets.

STFC's proposed US dollar-denominated senior secured notes was assigned rating of BB (Exp) by Fitch Ratings and BB- by S&P.

The company stock was bullish and at around 10.40am Shriram Transport Finance Company stock was trading at Rs1233.50 up Rs16.90 or 1.39% from its previous closing of Rs1,216.60 on the BSE.

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