Shriram Fin to raise Rs 400 crore from HSBC through hedged loan
The tenure of the loan is 25 months, in the first 13 months of which the company will pay a fixed 8.95% interest. For the rest of the 12 months the loan will be linked to the one-year overnight indexed swaps (OIS), but the interest rate option bought by the company will allow it to cap its interest beyond a level, which will be borne by the bank.
