India: SKS Microfinance Raises Rs 25 cr (USD 5 ml) via NCD issue

Mar 2009
Mumbai, India, March, 09 2009 - Hyderabad-based SKS Microfinance today said it has raised Rs 25 crore through the issue of non-convertible debentures (NCD).

Yes Bank fully subscribed the issue and acted as the lead manager for the programme, a press release said here.

The bond has a tenure of one year and carries a coupon rate of 10.5 per cent annum.

The fund raised will be used to fuel SKS operations in the area of microfinance, it said.

SKS Microfinance currently serves 36 lakh clients across 60,000 villages and has disbursed Rs 5,788 crore in loans, the release said.


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