Shriram steers $225m tap through volatility

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By Morgan Davis
26 Mar 2021

Shriram Transport Finance Co caught an opportune time to print a $225m tap of a bond on Thursday, with the response to its deal reflecting investor preference for strong Indian credits.

The —/BB-/BB rated borrower sold the original $500m 4.4% 2024 social bond in January.

Shriram, one of India's non-banking financial companies (NBFCs), returned to the market for an opportunistic tap this week, ahead of the March 31 end of the Indian financial year.

"They saw the market was conducive ...

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