Latest News | STFC Raises Rs 525 Cr by Issuing Bonds

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.

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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.

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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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)