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Shriram Finance plans $500-M bond buyback

Economic Times   Shriram Finance  

Mumbai-based Shriram Finance is planning a USD 500-M bond buyback. The buyback will target bonds maturing in April 2027 and April 2028, with the offer expected to be priced at a slight premium to the current trading price.Shriram Finance is a non-banking financial company (NBFC) that recently saw a 20% stake acquisition by the Mitsubishi UFJ Financial Group. By repurchasing these specific bonds, the company aims to achieve a reduction in borrowing costs of at least 75 basis points by replacing the debt with cheaper funds.The 2027 bonds have an outstanding value of USD 750-M, while the 2028 bonds have USD 500-M outstanding. Both bonds are currently trading at approximately USD 101.

For FY26, Shriram Finance had reported about INR 48,118 Cr in Operating Income and about INR 9,998 Cr in PAT.