Shriram's social bond gets stellar US support

India_truck_PAImages_10Jan2020
By Morgan Davis
10 Jan 2020

Shriram Transport Finance Co appealed to investors in the US by selling a social bond that flew off the shelves, allowing the Indian non-banking financial company to raise $500m.

Shriram's 144A/Reg S trade is the first foreign currency bond from India to carry a social label, according to Dealogic. The only other Indian social bond came from Indiabulls Housing Finance, when it sold a Masala bond in January 2018.

NBFC Shriram had plenty working in ...

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