India New Issue-Satin Creditcare accepts bids for 4-year bonds -traders

Satin Creditcare Network

13/01/2023 07:29

MUMBAI, Jan 13 (Reuters) - India's Satin Creditcare
Network  SATR.NS  has accepted bids worth 250 million rupees
($3.07 million) for bonds maturing in four years, two merchant
bankers said on Friday.
    The company will pay an annual coupon of 12.30% on the issue
and invited commitment bids from bankers and investors earlier
in the day, they said.
    The notes are rated BBB+ by CARE Ratings and the issue will
close for subscription next week.
    In December, the company raised 650 million rupees by
selling five-year bonds at an annual coupon of 12.15%.
($1 = 81.4100 Indian rupees)
 (Reporting by Dharamraj Dhutia
Editing by Sohini Goswami)
 ((Dharamraj.dhutia@tr.com))