Satin Creditcare's Working Committee approved a private placement of up to USD 20 million in secured, USD-denominated bonds.
The 36-month bonds offer a coupon of 310 bps plus 6-month Term SOFR and are proposed to be listed on NSE IX or India INX.
The bonds will be secured by a first-ranking charge on identified book debts with a security cover of 1.05x the principal.