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Shriram Transport to raise Rs 200 cr by via masala bonds

Rupee symbol

New Delhi: Shriram Transport Finance today said it will issue rupee-denominated bonds worth Rs 200 crore to Deutsche Bank AG, Singapore.

"In this connection, the company has signed today a purchase agreement with the Deutsche Bank AG, Singapore Branch, for purchase of rupee-denominated bonds (RBD)," it said in a regulatory filing.

Shriram Transport said the proceeds through the RBD, popularly known as masala bonds, will be ustilised as per RBI norms. The bonds will be listed on the Singapore Exchange Securities Trading Ltd.

The bonds will mature on February 18, 2020, bearing coupon rate of 8.25 per cent per annum. The company stock closed 1.2 per cent higher at Rs 963.70 on BSE yesterday.

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