Satin Creditcare to raise 20 million via dollar bonds with SOFR linked coupon

Coupon tied to six month SOFR plus 310 bps

Satin Creditcare Network says it plans to raise $20 million by issuing dollar-denominated bonds. The bonds are set for allotment on May 27 and will carry a coupon linked to the six-month SOFR, priced at 310 basis points above it. Interest will be paid semi-annually, aligning returns with global rate benchmarks.