CreditAccess Grameen Limited has successfully completed the issuance and allotment of USD 40,000,000 in secured, rated, and listed Non-Convertible Bonds (NCBs). This move follows an earlier intimation on December 10, 2025. Each bond has a face value of USD 10,000, maturing over a tenure of 60 months. The funds will be secured via a first-ranking hypothecation charge over specific loan receivables.
Completion of Major Debt Issuance
CreditAccess Grameen Limited has formally announced the completion of the issuance and allotment process for its tranche of Secured, Rated, Listed, USD Denominated Non-Convertible Bonds (NCBs). This action was confirmed in correspondence dated March 18, 2026.
The total size of the issue aggregated up to USD 40,000,000 (Forty Million United States Dollars). The issuance comprised 4,000 bonds, with each bond carrying a face value of USD 10,000 (Ten Thousand United States Dollars).
Key Terms of the Instruments
The details provided in Annexure A outline the primary features of these new instruments:
- Listing Exchange: The bonds are proposed to be listed on the NSE IFSC Limited.
- Tenure: The instruments carry a fixed tenure of 60 (Sixty) months.
- Coupon Rate: The interest offered is set at 240 (Two Hundred and Forty) basis points plus Term SOFR, to be determined on the Quotation Day. Interest payments are scheduled on a half-yearly basis.
- Principal Repayment: Principal repayment will adhere to the schedule detailed in the Information Memorandum.
Security Details
To secure the issue, the Company has created a charge in favour of the Trustee for the benefit of the Bond Holders. This charge constitutes an exclusive first-ranking and continuing charge by way of hypothecation over specific loan receivables and book debts, both present and future. This security arrangement is formalized under an unattested deed of hypothecation.
The document confirms that there are Nil special rights, privileges, or details concerning any adverse comments regarding payment defaults for the specified instrument, which has a delay threshold exceeding three months.
Source: BSE
