Accordingly, the company would issue fixed rate, senior secured social notes denominated in US dollars. The coupon would be paid semi-annually. The notes would be issued in denomination of $200,000 and, in excess thereof, integral multiples of $1,000.
The company’s present S&P rating is ‘B+/stable’. The issue rating would be determined in due course of time.
The company would place its present and future financial and non-financial assets (including investments) and the present and future loan assets (including all monies receivable) as collateral.
The proceeds from the notes will be used in accordance with Sammaan Capitals’ sustainable financing framework, and as may be permitted by the RBI ECB guidelines including for onward lending purposes.
According to the maintenance covenants, the company would keep the net npa, as a percentage of Gross Advances, at less than 5.0%; it would maintain a security coverage ratio of alteast 1.1; and the total secured loans under its loan book shall not be less than 85% of its total loans under its loan book.
Sammaan Capital is registered as a non-banking financial company-investment and credit company (NBFC-ICC) with the Reserve Bank of India (RBI). Sammaan provides home loans (HLs) and loan against property (LAP)/micro, small & medium enterprise (MSME) loans.
The company had reported a consolidated net profit of Rs 302 crore in Q3 FY25 as compared with the PAT of Rs 302 crore in Q3 FY24. Total income fell by 8.73% YoY to Rs 20.19 crore during the period under review.