Shriram Transport Finance accepted $251.83mn of its 5.1% 2023s that were tendered by its bondholders under a buyback that was launched on October 17. Of the total amount tendered, $247.53mn had already been tendered by the early deadline of October 28 and another $4.3mn was tendered before the final deadline of November 14. Shriram will pay $985 per $1,000 in principal until the early deadline, and $955 per $1,000 in principal thereafter. The new amount outstanding of the 2023s will now stand at $248.2mn.
Shriram’s 5.1% 2023s are currently trading at 98.9 cents on the dollar, yielding 6.82%.