India New Issue-Satin Creditcare accepts bids for 18-month bonds - bankers

Satin Creditcare Network

05/04/2023 13:25

MUMBAI, April 5 (Reuters) - India's Satin Creditcare
Network  SATR.NS  has accepted bids worth 500 million rupees
($6.10 million) through bonds maturing in 18 months, two
merchant bankers said on Wednesday.
    The company will pay an annual coupon of 11.20% on the issue
and had invited commitment bids from bankers and investors
earlier in the day. 
    The notes are rated A- by ICRA and the issue will close for
subscription later this week. The bonds will mature in October
2024.
    In January, the company raised 250 million rupees by selling
four-year bonds at an annual coupon of 12.30%.
    
($1 = 81.9600 Indian rupees)

 (Reporting by Bhakti Tambe)
 ((Bhakti.Tambe@thomsonreuters.com; Reuters Messaging:
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