Homefinance News

Microfinance firm CreditAccess Grameen to raise up to Rs 5,000 crore via debt

Microfinance firm CreditAccess Grameen to raise up to Rs 5,000 crore via debt

Microfinance firm CreditAccess Grameen to raise up to Rs 5,000 crore via debt
Profile image

By PTI Feb 16, 2022 8:58:31 PM IST (Published)

The company's board also gave its approval for the issuance of secured, rupee denominated, non-convertible bonds aggregating up to an amount equal to the Indian rupee equivalent of $7.4 million.

Microfinance lender CreditAccess Grameen on Wednesday said its board has approved a proposal to raise up to Rs 5,000 crore through debt securities and an additional $.4 million (about Rs 55.5 crore) by issuing masala bonds, the company said in a regulatory filing.

Recommended Articles

View All

CreditAccess said this amount is proposed to be raised by the issuance of securities, including bonds, debentures, non-convertible debentures (NCDs) and commercial papers of any other marketable instruments in one or more tranches on private placement or any other mode. Besides, the company's board also gave its approval for the issuance of secured, rupee denominated, non-convertible bonds aggregating up to an amount equal to the Indian rupee equivalent of $7,400,000 to WaterCredit Investment Fund 3, LP.
These are rupee-denominated bonds, popularly known as masala bonds, issued outside India. The company said the masala bonds are proposed to be allotted on or before March 4, 2022. The tenure of these bonds is 36 months and the coupon is 9.7 per cent per annum.
Shares of CreditAccess Grameen on Wednesday closed at Rs 727.65 apiece on the BSE, up by 3.29 per cent from the previous close.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Most Read

Market Movers

View All
Top GainersTop Losers
CurrencyCommodities
CompanyPriceChng%Chng