Satin Creditcare Network raises Rs 100 crore in bonds
Satin Creditcare Network raised Rs 100 crore through non-convertible debentures in two tranches to strengthen its asset-liability position, bolster CRAR, and expand lending in income-generating and WASH-focused loans for clients.
By Atmadip Ray, ET Bureau |
ETMarkets.com
Microfinance lender Satin Creditcare Network completed raising Rs 100 crore in bonds, the company said Friday.
The fund was raised in two different tranches. The first tranche of Rs 40 crore was raised on July 24 while the final one of Rs 60 crore was completed on August 21.
The funds, structured with bullet repayments at the end of 5.5 years and 7 years respectively, are aimed at improving the company's asset liability position.
“Raising Rs 100 crore at this juncture reinforces the confidence investors place in our model and vision. It validates our financial strength and the trust we have built over the years," Satin chairman HP Singh was quoted as saying in a statement issued by the company.
The funds were raised through rated, unsecured, non-convertible debentures (NCDs), which qualify as tier II capital.
"This infusion also provides a stronger capital cushion to our CRAR of about 26% as at June 30, 2025," Singh said.
The company is planning to use the funds in expanding income-generating loans, and water, sanitation and hygiene (WASH) loans for its clients.
The fund was raised in two different tranches. The first tranche of Rs 40 crore was raised on July 24 while the final one of Rs 60 crore was completed on August 21.
The funds, structured with bullet repayments at the end of 5.5 years and 7 years respectively, are aimed at improving the company's asset liability position.
“Raising Rs 100 crore at this juncture reinforces the confidence investors place in our model and vision. It validates our financial strength and the trust we have built over the years," Satin chairman HP Singh was quoted as saying in a statement issued by the company.
The funds were raised through rated, unsecured, non-convertible debentures (NCDs), which qualify as tier II capital.
"This infusion also provides a stronger capital cushion to our CRAR of about 26% as at June 30, 2025," Singh said.
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The company is planning to use the funds in expanding income-generating loans, and water, sanitation and hygiene (WASH) loans for its clients.
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