India New Issue-Satin Creditcare to issue 18-month bonds -traders

Satin Creditcare Network

03/04/2023 14:21

MUMBAI, April 3 (Reuters) - India's Satin Creditcare
Network  SATR.NS  plans to raise at least 250 million rupees
($3.04 million) selling bonds maturing in 18 months, two
merchant bankers said on Monday.
    The company will pay an annual coupon of 11.20% on the issue
and has invited commitment bids from bankers and investors on
Wednesday, they said.
    The notes are rated A- by ICRA and the issue will close for
subscription later this week.
    The issue has a greenshoe option to retain an additional 250
million rupees and 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 = 82.2650 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Rashmi Aich)
 ((Dharamraj.dhutia@tr.com))