The issue was fully subscribed and bilaterally placed with Barclays Bank PLC, a qualified institutional buyer. CreditAccess Grameen continues to use the private placement NCD route to fund the growth of its lifecycle credit suite for low-middle income households across rural and semi-urban India.
The NCDs are senior, secured, rated, listed and redeemable in nature. They were issued in two tranches, comprising INR 100 crore with a tenure of 24 months and a fixed rate coupon of 9.15% per annum, and INR 200 crore with a tenure of 36 months and a fixed rate coupon of 9.25% per annum.
The coupon on both tranches is payable annually, while the principal will be repaid as a bullet payment at the end of the respective tenures.
Commenting on the transaction, Mr. Nilesh Dalvi, Chief Financial Officer, CreditAccess Grameen, said, “The bilateral NCD placement with a leading global financial institution is a strong endorsement of our credit profile, asset quality and governance standards, while further deepening our access to the domestic institutional debt market. From an ALM perspective, the bullet structure is particularly advantageous, as the principal remains fully outstanding until maturity rather than amortising progressively, thereby providing a longer effective funding benefit and strengthening our ALM profile. As we move forward, we will remain focused on enhancing funding efficiency and building a robust funding architecture aligned with our growth ambitions through 2028.”
CreditAccess Grameen Limited is headquartered in Bengaluru and provides a curated lifecycle credit suite to low-middle income households spanning group loans, individual business loans, secured business loans, affordable housing loans and two-wheeler financing.
The Company operates across 457 districts in 16 states — Andhra Pradesh, Bihar, Chhattisgarh, Goa, Gujarat, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh and West Bengal — and one union territory, Puducherry, through 2,276 branches.
The Company’s Promoter is CreditAccess India B.V., a multinational company focused on inclusive financing, supported by leading global institutional investors. The INR 300 crore NCD placement further expands CreditAccess Grameen’s institutional funding base as it continues to build its funding architecture in line with its growth ambitions through 2028.
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