The secured NCDs have been rated ‘CARE AA+’ by CARE for an amount of upto Rs 500 crore and ‘AA/Stable’ by Crisil for an amount of upto Rs 500 crore, the company said here on Thursday.
The funds will be used for STFC’s financing activities including lending and investments, its business operations, capital expenditure, working capital requirements, and, to repay existing loans. Its primary focus is on financing pre-owned commercial vehicles to first time users and small road transport operators.
Published 13 May 2010, 15:42 IST