Credit Access Grameen raises Rs 990 crore via selling NCDs

The lender had announced Rs 400 crore as the base issue size with an option to retain oversubscription up to Rs 600 crore.

This was the second NCD by India's largest NBFC-MFI. The issue opened for subscription on August 24 and had an early closure on September 1.

"The issue aligns with our liability strategy which focuses on diversification in funding sources and higher share of longer tenure funds," CreditAccess managing director Udaya Kumar Hebbar said.


The issue offered monthly and cumulative interest options with an effective yield ranging from 9.48% to 10.13% per annum. The NCDs are rated "AA-/Stable" by India Ratings and Research and are listed on both the National Stock Exchange of India and the BSE.