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Satin Creditcare raises Rs75 crore through allotment of NCDs

8 Mar 2022 , 09:35 AM

Satin Credit

The Working Committee of Satin Creditcare Network Limited in its meeting held on March 7, 2022 has allotted 750 Secured, Rated, Listed, Redeemable, Transferable, Non-Convertible Debentures of Rs10 lakh each aggregating to Rs75 crore on Private Placement basis.

The NCDs have been allotted to three investors Blueorchard Microfinance Fund (BOMF), Japan Asean Women Empowerment Fund SA, SICAV-SIF (JAWEF) and Microfinance Initiative for Asia Debt Fund SA, SICAV-SIF (MIFA).

The tenure of the instrument is 48 months and the coupon rate offered is 11.7702% per annum and schedule of payment of interest is Semi-Annually. Schedule of payment of principal amount 25% of principal at the end of 36 months and 75% at the end of 48 months.

“Company shall maintain security cover of at least 1.05 times or 105% of principal and interest outstanding with exclusivity on such security interest,” company said in a filing on Monday.

At around 9.35 am, Satin Creditcare Network Ltd is currently trading at Rs85.00 per piece down Rs1.00 or 1.16% from its previous closing of Rs86 per piece on the BSE.

Related Tags

  • fundraise
  • NCDs
  • private placement
  • Satin Creditcare Network Limited
  • Satin Creditcare news
  • Satin Creditcare share price
  • Satin Creditcare stock price
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