Allotment up to 2,000 secured, rated, listed, redeemable united states dollars denominated non-convertible bonds having face value of USD 10,000 each aggregating upto USD 20,000,000
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Satin Creditcare Network Limited has allotted 2,000 secured, rated, listed, redeemable USD-denominated non-convertible bonds. Each bond has a face value of USD 10,000, totaling USD 20 million. The bonds were issued on a private placement basis to BlueOrchard Microfinance Fund, a known impact investor in the microfinance sector. This is a debt instrument, not equity, and was approved by the Working Committee of the Board of Directors.
This represents fresh debt capital raise for the microfinance company, strengthening its liquidity. No immediate dilution for equity shareholders as bonds are non-convertible. BlueOrchard's participation signals institutional confidence in the company.