Indian NBFC Shriram Transport Finance launched a tender for any and all of its $750mn 5.95% dollar bonds due October 2022 on Friday. The company is offering par plus accrued and unpaid interest for the 2022s, with the offer expiring on 11 August. Shriram also launched a tender offer, capped at $75mn, for its $475mn 4.15% dollar social bonds due July 2025s, as per IFR. While the tender offer price will be determined via a modified Dutch auction, Shriram has offered a bid range of $900-930 per $1,000 in principal, which includes an early tender premium of $30 for bonds validly tendered by the early deadline of 11 August. Those who validly tender after this date but by the expiration date of 25 August will not receive the early tender premium. Both tender offers carry a Hedge Unwind Condition related to certain hedge transactions in connection with the tender offers. Should the condition not be met or waived by the company at its discretion, Shriram will not accept any notes.