Satin Creditcare plans $20 million bond issue

Kolkata: Microfinance lender Satin Creditcare Network plans to raise $20 million in dollar-denominated bonds, the company announced Wednesday. The bonds are proposed to be allotted on May 27 at an SOFR (secured overnight financing rate) linked coupon. The rate will be 310 basis points above the six-month SOFR on the quotation date. The interest on the bonds will be payable semi-annually, the company said.