Satin Creditcare Network Limited has informed the Exchange regarding Outcome of Board Meeting held on July 01, 2025.
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Satin Creditcare Network's Working Committee of the Board approved the issuance of 4,410 senior, secured, rated, listed, redeemable, non-convertible debentures (NCDs) on a private placement basis. Each NCD has a face value of Rs 1,00,000, taking the total issue size to Rs 44.10 crore. The NCDs carry a coupon of 10.75% per annum, payable semi-annually, with a 5-year tenure (allotment on July 15, 2025 and maturity on July 15, 2030). Principal will be redeemed in two equal installments — on July 15, 2028 and July 15, 2030. The issue is secured by a first-ranking exclusive charge over identified book debts/loan receivables with a 1.0x security cover and is proposed to be listed on BSE.
This is a modest Rs 44.10 crore fundraise for Satin Creditcare, a microfinance NBFC, to support its lending operations. At 10.75% coupon, the borrowing cost is reasonable for an NBFC, and the structured redemption avoids a bullet repayment burden. The dilution impact on equity shareholders is nil since these are non-convertible debt instruments.