Shriram Transport Finance Company’s US$725 Million Secured Notes Offering

Linklaters advised the joint lead managers: Citigroup, Deutsche Bank, HSBC, Standard Chartered Bank, Barclays, BNP PARIBAS, Credit Suisse, DBS Bank Ltd. & Emirates NBD Capital.

Shriram Transport Finance Company’s (STFC) Rule144A/Reg S issued US$725m 4.40% senior secured notes due 2024 under STFC’s US$3bn  medium term note programme. STFC’s bond transaction marks the first international public social bond issuance from India in 2021.

The proceeds from the issuance will be used in accordance with STFC’s Social Finance Framework and as may be permitted by the Reserve Bank of India’s External Commercial Borrowing guidelines.

Shriram Transport Finance Company is part of the SHRIRAM conglomerate which has significant presence in financial services viz., commercial vehicle financing business, consumer finance, life and general insurance, stock broking, chit funds and distribution of financial products such as life and general insurance products and units of mutual funds.

Head of Southeast Asia and South Asia Capital Markets, Amit Singh (Picture), was involved in the transaction.

Involved fees earner: Amit Singh – Linklaters;

Law Firms: Linklaters;

Clients: Barclays Bank; BNP Paribas; Citigroup Global Markets Ltd; Credit Suisse; DBS Bank; Deutsche Bank; Emirates NBD Capital Limited; HSBC; Standard Chartered Bank;

Sonia Carcano

Author: Sonia Carcano