India New Issue-Shriram Transport Finance accepts bids on 10-year bonds - traders

Reuters

Published Aug 12, 2022 • < 1 minute read

MUMBAI — India’s Shriram Transport Finance Company Ltd has accepted bids worth 33 billion rupees ($414.28 million) through a sale of bonds maturing in 10 years, three merchant bankers said on Friday.

The non-banking finance company will pay an annual coupon of 8.72% on this issue and had invited coupon and commitment bids from bankers and investors for the same on Friday, they said.

The notes are rated AA+ by CRISIL and the issue will close for subscription on Aug. 17. ($1 = 79.6560 Indian rupees) (Reporting by Dharamraj Lalit Dhutia)

You must be logged in to join the discussion or read more comments.

Create an Account

Join the Conversation

Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.