Working Committee Meeting for issuance of Non-Convertible Debentures
SATIN · price
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Satin Creditcare Network's Working Committee approved issuance of up to 8,446 listed, unsecured, subordinated NCDs worth INR 84.46 crore on private placement basis. Each debenture has a face value of INR 1 lakh with a 7-year tenure (May 2026 to May 2033). The coupon rate is 12.80% per annum, payable semi-annually. Redemption will be in two tranches: ~99.99% of principal in May 2031 and the balance on maturity in May 2033. The NCDs will be listed on BSE. Satin Creditcare is a microfinance-focused NBFC, and this debt raise is likely to support its lending operations.
The 12.80% coupon is a high borrowing cost, reflecting either the company's credit risk profile or current market liquidity conditions. For shareholders, this issuance increases debt obligations but may support portfolio growth if asset quality holds.