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SGX: Welcomes Shriram Transport's Inaugural Masala Bond Listing.
20 Jan 2017 17:48Singapore Exchange welcomed the inaugural rupee-denominated or Masala bond listing of Shriram Transport Finance Company, an Indian provider of financing for commercial vehicles. Shriram Transport raised Rs. 4.75 billion through a private placement of its Masala bond, which has a tenor of three years and one month and was priced at 8.25%. Based in Mumbai, the company has established 899 branch offices and 906 rural centres across India, with a view towards increasing its market share in the pre-owned commercial vehicle segment and targeting a relatively new customer base in rural areas. Proceeds from the Masala bond will be used for various financing activities and for portfolio diversification. Credit Suisse acted as arranger for the issuance...
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Source: ShareInvestor Express
