Satin Creditcare Network (SCNL) has raised Rs 100 crore from Mahindra and Mahindra Financial Services (M&M Financial) through issuance of Commercial Papers at an average interest rate of 10% per annum for tenure of 3 to 6 months.
The company has been raising funds through various instruments, such as Term Loans, Non Convertible Debentures (NCD), Preference shares, Commercial Paper and Securitization/assignment, etc., in keeping with its strategy to diversify its resource profile. Post demonetization, it has raised over 1500 crore which reflects its strong association and comfort with various lenders.
Satin Creditcare Network is one of the largest Microfinance Institutions (MFI) in Northern India, and is the 3rd largest MFI in the country.
