Shriram Transport Finance approves issuance of USD 475 million social bonds

11 Jan 2022 , 09:18 AM

The Banking and Finance Committee of Shriram Transport Finance Company Limited on Monday has approved the issuance of USD 475,000,000 4.15% Senior Secured Notes due 2025 (Social Bonds) under the USD 3.50 billion Global Medium Term Note Programme.

The issue price is 100%. The Company shall make necessary intimation upon issuance and allotment of the Social Bonds to be listed on Singapore Exchange Securities Trading Limited. The social bonds will be issued on January 18, 2022.

“The company shall use the proceeds in accordance with STFC’s Social Finance Framework and as may be permitted by the RBI ECB guidelines.

Onward lending and other activities as may be permitted by the RBI ECB Guidelines and in accordance with the approvals granted by the RBI from time to time,” company said in a filing.

During early trade on Tuesday, Shriram Transport Finance Company Ltd was trading at Rs1,225.85 per share up by Rs3.1 or 0.25% from its previous closing of Rs1,222.75 per share on the BSE.