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CreditAccess to issue NCDs worth Rs 100 crore

Capital Market 

CreditAccess Grameen announced that the Executive, Borrowings and Investment Committee of the Board of Directors of the company has approved issuance of Non-Convertible Debentures (NCDs) in favour of Bank of India.

CreditAccess Grameen in a regulatory filing made after market hours yesterday announced that the the company will issue of 1,000 rated, listed, senior, secured, redeemable, taxable, non-convertible debentures of face value of Rs 10 lakh each, aggregating up to Rs 100 crore on a private placement basis.

The coupon rate is 9.15% per annum with tenure fixed at 18 months and a maturity date of 20 April 2022.

Shares of CreditAccess Grameen were trading 0.24% higher at Rs 680 on BSE.

CreditAccess Grameen is a microfinance institution focused on providing micro-loans to women customers predominantly in rural areas across India.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, October 16 2020. 09:13 IST