CreditAccess Grameen allots USD 30 mn bonds to BlueOrchard Microfinance Fund
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CreditAccess Grameen has allotted 3,000 USD-denominated secured non-convertible bonds to BlueOrchard Microfinance Fund via private placement. Issue size is USD 30 million at USD 10,000 per bond. The 5-year bonds mature on December 24, 2030 and will be listed on NSE IFSC Gift City. Coupon is Term SOFR plus 240 basis points, paid semi-annually. Bonds are secured by hypothecation over loan receivables. Partial redemption: 750 bonds in Dec 2028, 750 in Dec 2029, and 1,500 in Dec 2030.
USD 30 mn offshore capital raised from a known global microfinance investor, diversifying and strengthening the funding base.