Satin Creditcare Network raises Rs 57 crore via bonds
The bonds have been placed on a private placement basis, the company said in a regulatory filing to stock exchanges on Monday.
By Atmadip Ray, ET Bureau |
iStock
Kolkata: Microfinance lender Satin Creditcare Network raised Rs 57 crore via bonds from UTI International Wealth Creator at an 11.5 per cent annual rate of interest.
The bonds have been placed on a private placement basis, the company said in a regulatory filing to stock exchanges on Monday.
The bonds will mature after six years.
The lender is looking to grow its loan portfolio in the March quarter with improved mobility as state governments eased restrictions following the fall in the number of Covid-19 cases.
Satin's assets under management shrank 8.4 per cent year-on-year to Rs 7,218 crore at the end of December 2021. Its loan disbursement for the December quarter too fell to Rs 1,348 crore as compared with Rs 1,822 crore in the year-ago period.
The bonds have been placed on a private placement basis, the company said in a regulatory filing to stock exchanges on Monday.
The bonds will mature after six years.
The lender is looking to grow its loan portfolio in the March quarter with improved mobility as state governments eased restrictions following the fall in the number of Covid-19 cases.
Satin's assets under management shrank 8.4 per cent year-on-year to Rs 7,218 crore at the end of December 2021. Its loan disbursement for the December quarter too fell to Rs 1,348 crore as compared with Rs 1,822 crore in the year-ago period.
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