Money & Banking

CredAvenue facilitates ₹ 337.5-crore debenture issue from Spandana Sphoorty

Our Bureau Chennai | Updated on June 23, 2021

Online bond platform Plutus has promoted Spandana’s MLD issue

Chennai-based CredAvenue on Wednesday announced that it has facilitated the largest ever Market Linked Debenture (MLD) issuance of ₹337.5 crore in the microfinance (MFI) sector through its online bond platform “Plutus”.

The enterprise debt marketplace said, the MLD issue from Spandana Sphoorty Financial Ltd (SSFL) received very strong interest and participation from HNI investors, family offices and corporate treasuries. SSFL MLDs have been assigned a rating of IND PP-MLD A/ Stable by India Ratings, implying low credit risk.

“We are excited to partner with CredAvenue in this landmark transaction. It is good to see heightened interest from retail investors in both our company and the microfinance sector. Funds raised through this issuance will help us scale our business profitably at an accelerated pace,” Padmaja Reddy, Founder and MD, SSFL said.

“Plutus platform offers retail investors a unique opportunity to invest in various debt instruments catering to their lifecycle requirements. One of the products on the platform, Market Linked Debentures (MLDs) have seen strong traction with retail investors. Our platform has cumulatively placed around ₹2,500 crore of MLDs in less than nine months” the statement quoted Sarath Bhaskaran, Head, Outreach, Plutus as saying.

Published on June 23, 2021

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