India New Issue-Satin Creditcare to issue 4-year bonds -traders

Satin Creditcare Network

12/01/2023 03:49

MUMBAI, Jan 12 (Reuters) - India's Satin Creditcare
Network  SATR.NS  plans to raise 250 million rupees ($3.1
million) through the sale of bonds maturing in four years, two
merchant bankers said on Thursday.
    The company will pay an annual coupon of 12.30% on this
issue and has invited commitment bids from bankers and investors
on Friday, 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 = 81.6200 Indian rupees)
 (Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)
 ((Dharamraj.dhutia@tr.com))