Shriram Transport Finance Company Limited, one of the largest asset financing NBFC in the country, with a primary focus on financing pre-owned commercial vehicles is proposing a public issue of upto Rs. 1,350 crore by issuing Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs. 1,000 each.<\/p>\n
The company is coming out with its Tranche 2 Issue of NCDs having a base size of Rs. 300 crore with an option to retain additional amount up to Rs. 1,050 crore from oversubscription, if any, aggregating to a Tranche 2 Issue Size of upto Rs. 1,350 crore.<\/p>\n
The Issue will open for subscription on October 15, 2018 and is scheduled to close on October 29, 2018, with an option of early closure, and\/or extension, as mentioned in the Tranche 2 Prospectus.<\/p>\n
The proposed NCDs under this Issue have been rated \u2018CRISIL AA+\/Stable\u2019 by CRISIL and \u2018IND AA+: Outlook Stable\u2019 by India Ratings and Research. These ratings indicate high degree of safety regarding timely servicing of financial obligations and carrying very low credit risk.<\/p>\n
The funds raised through this Issue will be used for onward lending, financing, and for repayment\/ prepayment of interest and principal of existing borrowings of the Company and for general corporate purposes.<\/p>\n
Options of investment tenors are 3, 5 and 10 years, with monthly, annual & cumulative payment options.<\/p>\n
These NCDs, bearing a fixed rate of interest, are being offered under seven different series:<\/p>\n
Series I and II are monthly interest payment options, having tenure of 5 years and 10 years respectively, and the Coupon shall be 9.12% p.a. and 9.30% p.a. respectively.<\/p>\n
Series III, Series IV and Series V, interest payable annually, have tenure of 3 years, 5 years and 10 years, respectively, and the coupon shall be 9.40% p.a., 9.50% p.a. and 9.70% p.a. respectively.<\/p>\n
Series VI and VII are cumulative options, having tenure of 3 years and 5 years respectively, where face value and interest accrued are paid at the end of the tenure. Effective yield shall be 9.40% p.a. and 9.50% p.a. respectively.<\/p>\n
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Shriram Transport Finance Company Limited, one of the largest asset financing NBFC in the country, with a primary focus on financing pre-owned commercial vehicles is proposing a public issue of upto Rs. 1,350 crore by issuing Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs. 1,000 each. The company is coming out with […]<\/p>\n","protected":false},"author":3,"featured_media":2404,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[2029,544,1410,2030],"class_list":["post-2403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-financing-pre-owned-commercial-vehicles","tag-nbfc","tag-non-convertible-debentures","tag-pre-owned-commercial-vehicles"],"aioseo_notices":[],"yoast_head":"\n