Shriram Transport Finance raises around Rs 3,556 crore through bond issue

Shriram Transport Finance Company on Friday said it has raised $500 million (approximately Rs 3,556 crore) through bond issue.

The proceeds from the bond would be used to generate employment, the company said in a regulatory filing.

Shriram Transport Finance Company (STFC) said it has "successfully priced a $500 million fixed rate senior secured 144A/Reg S bond for a 3.5 year tenor at 5.100 per cent".

STFC's bond transaction also marks the first international public social bond issuance from India, it stated.

"This marks the fourth successful USD bond issuance by the company since the relaxation in the external commercial borrowings (ECB) guidelines," it said.

The bond got overwhelming response from investors, as per the filing.

The shares of STFC were trading at Rs 1,147.80 a piece on BSE.