Debt

Debt financing

Shriram Transport Finance raises $475-M through social bonds

PTI  

Asset financing company Shriram Transport Finance Company (STFC) has raised USD 475 million (about INR 3,500 crore) through Reg S Bond, having a tenor of 3.5 years and offering a coupon of 4.15%. The proceeds from the STFC social bond would be used for employment generation, including through micro, small, and medium-sized enterprise (MSME) financing. The bond received an overwhelming response from investors, with the final order book oversubscribed 2.5 times. The transaction witnessed global investor participation with 66% from Asia, 18% from EMEA and 16% from the US, with 93% investment from asset managers including insurance companies, 4% from banks and 3% from private banks and others.