Working Committee meeting for issuance of up to 2,000 (Two Thousand) secured, rated, listed, redeemable, United States Dollar denominated bonds of face value of USD 10,000 (United States Dollar Ten Thousand only) each
SATIN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Satin Creditcare Network Limited's Working Committee has approved the issuance of up to 2,000 secured, rated, listed, redeemable USD-denominated bonds with face value of USD 10,000 each, aggregating up to USD 20 million. The bonds will be issued on a private placement basis and listed on NSE IFSC Limited (NSE IX) and/or India International Exchange (IFSC) Limited (India INX). The bonds carry a coupon of 310 basis points plus 6-month Term SOFR, payable semi-annually. They have a tenure of 36 months with maturity on May 28, 2029. The issuance is secured by first ranking exclusive charge over certain book debts and loan receivables of the company with a security cover of 1.05x.
This USD bond issuance will raise capital from overseas investors for Satin Creditcare, an NBFC focused on microfinance. The debt raise strengthens the company's funding profile and diversification into international capital markets, though it increases leverage. Bondholders will benefit from the security cover and floating rate coupon linked to SOFR.