The Executive, Borrowings and Investment Committee of CreditAccess Grameen Ltd (CAGL) on Tuesday finalised the terms of issue of Non-Convertible Debentures (NCDs) aggregating to Rs 214 crore to Nederlandse Financierings Maatschappij Voor Ontwikkelingslanden N.V. (FMO) on preferential basis.
The NCDs of Rs 10 lakh each are unlisted, unrated, senior secured, redeemable, and transferable, the Bengaluru-headquartered microfinance institution said in a regulatory filing.
CAGL focuses on providing micro-loans to women customers, predominantly in rural areas. The company operates in 213 districts in 13 states -- Karnataka, Maharashtra, Tamil Nadu, Chhattisgarh, Madhya Pradesh, Odisha, Kerala, Goa, Gujarat, Rajasthan, Uttar Pradesh, Bihar and Jharkhand -- and one union territory (Puducherry).