Credit Access Grameen raises Rs 989 crore via NCDs

Microfinance firm Credit Access Grameen on Monday said it has raised Rs 989.58 crore through public issue of secured, redeemable Non-Convertible Debentures NCDs. The NCD Tranche II Issue had a base issue size of Rs 400 crore with an option to retain oversubscription of up to Rs 600 crore aggregating up to Rs 1,000 crore, the Non-Banking Financial Company-Micro Finance Institution NBFC-MFI said in a statement on Monday.

Microfinance firm Credit Access Grameen on Monday said it has raised Rs 989.58 crore through public issue of secured, redeemable Non-Convertible Debentures (NCDs). The NCD Tranche II Issue had a base issue size of Rs 400 crore with an option to retain oversubscription of up to Rs 600 crore aggregating up to Rs 1,000 crore, the Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI) said in a statement on Monday. The issue saw interest from investors across series and tenures offering monthly and cumulative interest options with effective yield ranging from 9.48 per cent to 10.13 per cent per annum, it said.