CreditAccess Grameen Raises INR4.25 Billion Through Debenture Issue
CreditAccess Grameen (NSE:CREDITACC, BOM:541770) has raised 4.25 billion Indian rupees through the issue of non-convertible debentures on a private placement basis, according to a Monday filing to the Indian stock exchanges.The issuance was done in two separate transactions of 3.25 billion rupees, arranged by Nuvama Fixed Income Advisory. They were allotted to various investors with a two-year tenure and a fixed-rate coupon of 9.25% per annum, payable quarterly.The company also issued senior, secured, rated, listed, and redeemable non-convertible debentures worth 1 billion rupees bilaterally placed with Bajaj Finance (NSE:BAJFINANCE, BOM:500034). They were issued with a tenure of two years and a floating rate coupon of 9.15% per annum, payable monthly.The company's shares were down over 2% in recent trade.
