Shriram Transport Finance to reissue Oct 2032 bonds -traders

India's Shriram Transport Finance Co (SRTR.NS) plans to raise at least 1 billion rupees ($12.32 million) through the reissue of 8.50% October 2032 bonds, three merchant bankers said on Thursday.

The company has invited bids from bankers and investors between 11:00 a.m. and noon IST on Friday, they said.

The notes are rated AA+ by CRISIL and India Ratings and the issue will close for subscription next week.

The issue has a greenshoe option to retain an additional 1 billion rupees.

In October, the company raised 1 billion rupees by selling bonds maturing in 10 years at an annual coupon of 8.75%.

($1 = 81.1400 Indian rupees)