New Delhi, Aug 24 (PTI) Microfinance lender Satin Creditcare Network Ltd (SCNL) on Monday said it has raised Rs 100 crore by issuing bonds on a private placement basis.

"The working committee of Satin Creditcare Network Ltd vide their resolution dated August 24, 2020 has allotted debentures of Rs 100 crore on private placement basis," it said in a regulatory filing.

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The non-convertible debentures (NCDs), with maturity on February 24, 2022, bear interest rate of 10.25 per cent per annum.

SCNL said the interest will be payable on a half-yearly basis, while the principal amount is to be returned as one-time payment on the date of maturity.

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Stock of SCNL closed flat at Rs 79.35 apiece on BSE on Monday.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)