New Delhi, Feb 4 (PTI) Shriram Transport Finance Company (STFC) has raised Rs 525 crore by issuing secured bonds on a private placement basis, the company said on Friday.
The non-banking finance company allotted 5,250 non-convertible debentures (NCDs) of face value of Rs 10 lakh each on February 2, 2022, STFC said in a regulatory filing.
The coupon on the bonds are floating rate linked to the benchmark of 12 months treasury bills (T-bill) rate plus spread, payable annually.
The initial coupon rate will be 6.80 per cent per annum, it said, and the date of maturity of the bonds is February 2, 2024.
STFC said 100 per cent of the proceeds of the issue will be utilised towards on-lending to grow the asset book and financing of commercial vehicles. PTI KPM MKJ MKJ
