Shriram Finance has approved raising $150 mln through issuance of senior secured floating rate notes, under private placement basis, the lender informed the exchanges.
The notes will be issued on March 29 and will mature in 2026. The notes fall under the $3.5 bln global medium term note programme, the company said.
Interest on the notes will be a sum of compounded daily secured overnight financing rate and a 2.25% floating rate per annum. The interest payments will be semi-annual.
Shares of Shriram Finance ended 2.17% lower at ₹1233.20 on NSE, on Friday.
