Shriram Transport raises USD 475 million through social bonds

Shriram-Transport-Finance

Shriram Transport Finance Company (STFC) a part of the Shriram Group, has successfully raised USD 475 million Fixed Rate Senior Secured 144A /Reg S Bond (available ECB limit for FY 22) for a 3.5-year tenor at an interest rate of 4.15%.

This marks the 7th successful USD bond issuance by the Company since the relaxation in the ECB guidelines. The proceeds from the STFC social bond would be used for employment generation, including through micro, small, and medium-sized enterprise (MSME) financing.

Shriram Transport Finance Corporation was quoting at Rs 1,224.70, up Rs 1.95, or 0.16 percent.

News Source:- Moneycontrol

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