India New Issue-Satin Creditcare to issue 5-year bonds - traders

Satin Creditcare Network

07/12/2022 03:07

MUMBAI, Dec 7 (Reuters) - India's Satin Creditcare
Network  SATR.NS  plans to raise 650 million rupees ($7.89
million) through the sale of bonds maturing in five years, two
merchant bankers said on Wednesday.
    The company will pay an annual coupon of 12.15% on this
issue, and has invited commitment bids from bankers and
investors on Thursday, they said.
    The notes of the company are rated BBB+ by CARE Ratings and
the issue will close for subscription on Friday. 
    The issue has a put/call option at end of three years. 
($1 = 82.4210 Indian rupees)
 (Reporting by Dharamraj Dhutia
Editing by Nivedita Bhattacharjee)
 ((Dharamraj.dhutia@tr.com))