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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