Shriram Transport Finance raises Rs 3,556 crore

Mumbai: Non-banking lender Shriram Transport Finance (STFC) on Friday said it has raised $500 million (approximately Rs 3,556 crore) through dollar bond, making it the first international public social bond issuance from the country.

The money was raised through issuance of 144A/Reg S bonds having a tenor of three-and-a-half years and offering a coupon of 5.1 per cent from investors.

It received interest from marquee social bond investors including those from Hong Kong, Singapore, London and the US.

"The proceeds from the bond would be used for employment generation including through MSME financing and microfinance," it said.