Shriram Finance Limited has commenced tender offers to purchase for cash its outstanding 6.625% Senior Secured Notes due 2027 and 6.15% Senior Secured Notes due 2028. The company aims to purchase up to USD 300,000,000 of the 2027 notes and up to USD 160,000,000 of the 2028 notes. These offers are part of the company’s liability management activities to optimize its balance sheet. The expiration time for these offers is September 28, 2026.
Shriram Finance Launches Tender Offers for Senior Secured Notes
Shriram Finance Limited announced on September 21, 2026, the commencement of tender offers to purchase for cash its outstanding notes. These offers are part of the company’s ongoing efforts in liability management to optimize its balance sheet. The company is targeting two series of senior secured notes issued under its USD 3,500,000,000 Global Medium Term Note Programme.
Details of the Tender Offers
The first tender offer is for up to USD 300,000,000 of its outstanding USD 750,000,000 6.625 percent Senior Secured Notes due 2027. The second offer is for up to USD 160,000,000 of its outstanding USD 500,000,000 6.15 percent Senior Secured Notes due 2028.
For the 2027 Notes, the purchase price is USD 1,000 per USD 1,000 principal amount, along with an additional interest amount of USD 11.50 per USD 1,000 principal amount and accrued interest. For the 2028 Notes, the purchase price is also USD 1,000 per USD 1,000 principal amount, with an additional interest amount of USD 13.00 per USD 1,000 principal amount and accrued interest.
Key Dates and Conditions
Each Tender Offer will expire at 5:00 p.m. (New York City time) on September 28, 2026, unless extended or earlier terminated. The company expects the Payment Date to be on or around September 30, 2026.
Tenders of Notes may be made only in a minimum denomination of USD 200,000 principal amount or a higher integral multiple of USD 1,000. The offers are subject to the General Conditions described in the Tender Offer Memorandum.
Dealer Managers and Tender Agent
The Hongkong and Shanghai Banking Corporation Limited (HSBC) and MUFG Securities Asia Limited Singapore Branch (MUFG) have been retained as the Dealer Managers for these tender offers. Sodali & Co Ltd. is acting as the Information and Tender Agent. Further details regarding the terms of the offers are available on the transaction website: https://projects.sodali.com/shriram.
Source: BSE
