India, April 16 -- The Bond Issuance Committee of Shriram Transport Finance Company Ltd has approved issuance of USD 500,000,000 Senior Secured Notes under the USD 2,000,000,000 Global Medium Term Note Programme.

The Senior Secured Notes are proposed to be listed at the Singapore Exchange Securities Trading Limited.

The Tenure of the Senior Secured Notes is 3.5 years and rate of interest of Senior Secured Notes is 5.950 percent p.a. payable semi-annually.

The Senior Secured Notes will be secured by creation of charge over specified accounts receivables. The funds will be used for onward lending and other activities as may be permitted by the ECB Directions.

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