Shriram Finance Limited has announced the commencement of tender offers to purchase for cash certain outstanding senior secured notes issued under its USD 3,500,000,000 Global Medium Term Note Programme. This disclosure is made pursuant to Regulation 30 of SEBI Listing Regulations.

Tender Offer Details

The company is offering to purchase:

  • Up to U.S.$300,000,000 of its U.S.$750,000,000 6.625% Senior Secured Notes due 2027 (2027 Notes)
  • Up to U.S.$160,000,000 of its U.S.$500,000,000 6.15% Senior Secured Notes due 2028 (2028 Notes)

Financial Terms

For the 2027 Notes:

  • Purchase Price: U.S.$1,000 per U.S.$1,000 principal amount
  • Additional Interest Amount: U.S.$11.50 per U.S.$1,000 principal amount
  • Maximum Acceptance Amount: U.S.$300,000,000

For the 2028 Notes:

  • Purchase Price: U.S.$1,000 per U.S.$1,000 principal amount
  • Additional Interest Amount: U.S.$13.00 per U.S.$1,000 principal amount
  • Maximum Acceptance Amount: U.S.$160,000,000

Both offers include payment of accrued and unpaid interest from the immediately preceding interest payment date to but excluding the Payment Date.

Timeline and Procedures

The Tender Offers expire at 5:00 p.m. (New York City time) on September 28, 2026, unless extended or terminated. The company expects the Payment Date to be on or around September 30, 2026. Tenders must be made in minimum denominations of U.S.$200,000 principal amount or higher integral multiples of U.S.$1,000.

Proration Mechanism

If the aggregate principal amount of Notes validly tendered exceeds the applicable Maximum Acceptance Amount, the Company will accept tenders on a pro rata basis (disregarding fractions).

Purpose and Impact

The company is undertaking these Tender Offers as part of its liability management activities to optimize its balance sheet. All Notes that are validly tendered and accepted for purchase will be retired and cancelled on the Payment Date. Notes not tendered will remain outstanding.

Conditions

The Tender Offers are conditioned only on the satisfaction or waiver of the General Conditions described in the Tender Offer Memorandum. Neither offer is conditional upon any minimum principal amount of Notes being tendered.

Advisors Appointed

The Company has retained:

  • The Hongkong and Shanghai Banking Corporation Limited (HSBC) as Dealer Manager
  • MUFG Securities Asia Limited Singapore Branch (MUFG) as Dealer Manager
  • Sodali & Co Ltd. as Information and Tender Agent

Document Availability

The Tender Offer Memorandum is available on the transaction website at https://projects.sodali.com/shriram and has been filed with India International Exchange (IFSC) Limited (India INX) and NSE IFSC Limited (NSE IX).