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Shriram Transport Financ NCD

Shriram Transport Financ NCD

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Published by Rajib Layek

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Published by: Rajib Layek on Nov 19, 2012
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12/04/2012

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Shriram Transport Finance Company Limited (STFC), India's largest player incommercial vehicle finance, was established in the year 1979. The company has anetwork of 479 branches and service centres.STFC is the flagship company of the Shriram Group which has significant presence inChit Funds, Consumer Durable Finance, Life Insurance, General Insurance , Stock Broking, Property Development, Project Engineering, Wind Energy among others. NCD PUBLIC ISSUEPublic Issue of Secured Non Convertible DebenturesOffering SummarySize Aggregating upto Rs. 500 crs with an option to retain oversubscription upto Rs500 crsInvestment options Five OptionsCredit Rating “CARE AA+” by CARE and “AA (ind)” by FitchYield on redemption 10.75% to 11.50% Per annum.Subscription period Issue Opening date : 27th July 2009 - Issue Closing date : 14thAugust 2009Security First charge on an identified immovable property and specified futurereceivablesof the Company to ensure minimum one time security cover Listing The NCDs to be listed on National Stock Exchange (“NSE”)Options I II III IV VTenor 60 months 60 months 60 months 60 months 36 monthsFrequency of Interest Payment Half-Yearly Annual Cumulative AnnualAnnualMinimum Application Rs. 10,000/- (10 NCDs) (for option I, II, III, IV ,V, NCDs either taken individually or collectively)Face Value of NCD (Rs. / NCD) Rs.1,000/- Rs.1,000/- Rs.1,000/- Rs.1,000/-Rs. 1,000/-Coupon (%) p.a. 11.00%** 11.25%** 11.03%compounded quarterly 11.00% 10.75%Yield on redemption (%) p.a. 11.30% 11.25% 11.50% 11.00% 10.75%.Put and call option NIL NIL At the end of 48 months At the end of 48 months NILRedemption Staggered in ratio of 40%, 40% and 20% at the end of 36, 48 and 60months, respectively. Staggered in ratio of 40%, 40% and 20% at the end of 36, 48 and60 months, respectively. Bullet repayment at end of 60 months* Bullet repayment atend of 60 months* Bullet repayment at end of 36 months* Subject to exercise of Put/Call Option **Additional interest at the rate of 0.25% p.a. for senior citizens for option I & IIOption I II III IV V

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