Satin Creditcare Network Limited announced today, May 6, 2026, that its Working Committee of the Board of Directors has approved the terms for issuing up to 2,000 secured, rated, listed, redeemable, United States Dollar denominated bonds. Each bond will have a face value of USD 10,000, aggregating to a total of USD 20,000,000 (approximately ₹166.6 crore). The bonds will be issued on a private placement basis and are proposed to be listed on NSE IFSC Limited and/or India International Exchange (IFSC) Limited. The allotment date for these bonds is scheduled for May 27, 2026, with a maturity date of May 28, 2029, resulting in a tenure of 36 months. The interest rate for the bonds will be 310 basis points plus a 6-month Term SOFR, to be determined on the Quotation Day. Interest payments will be made semi-annually, and the principal will be redeemed on the maturity date. The bonds will be secured by a first-ranking charge on certain identified book debts and loan receivables of the company, with a security cover of up to 1.05 times the outstanding principal amounts. In case of a payment default or event of default, an additional interest of 2% per annum will be applicable.
