Credit Saison India raises maiden NCD of ₹200 crore

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Credit Saison India, a technology-led NBFC, has raised its first Non-Convertible Debentures (NCD) of ₹200 crore on a private placement basis.

This maiden issuance has a fixed coupon rate of 7.95 per cent per annum for three years. The NCD issue has been listed on NSE.

This first issuance of NCD amounting to ₹200 crore is expected to pave the way for further market issuances going forward, including commercial papers.

Credit Saison India is rated CRISIL AAA/Stable and CARE AAA/Stable.

“While Credit Saison India’s growth has been enabled by the continuous equity support from its parent entity and a strong lender base, our entry into debt capital markets will further diversify our liability profile,” said Presha Paragash, CEO and Full-time Director, Credit Saison India.

Credit Saison India has a portfolio with an AUM of ₹ 7,200 crore in the consumer and SME segments. As of June 30, 2023, Credit Saison India had 32 branches in Tier-1 and Tier-2 cities. Over the last two years, Credit Saison India has raised almost ₹ 10,000 crore from major Japanese, PSU, private, and Foreign Banks.